Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At PIMCO Corporate Income Fund (NYSE:PCN), a filing with the SEC revealed that on Friday, William H. Gross bought 32,472 shares of PCN, at a cost of $16.24 each, for a total investment of $527,303. So far Gross is in the green, up about 1.0% on their buy based on today's trading high of $16.40. PIMCO Corporate Income Fund is trading up about 0.4% on the day Wednesday. Before this latest buy, Gross bought PCN at 3 other times during the past year, for a total investment of $2.34M at an average of $16.17 per share.
And also on Friday, William H. Gross purchased $364,671 worth of PIMCO Municipal Income Fund II (NYSE:PML), purchasing 31,049 shares at a cost of $11.74 each. Before this latest buy, Gross purchased PML on 4 other occasions during the past year, for a total investment of $1.82M at an average of $11.89 per share. PIMCO Municipal Income Fund II is trading up about 0.3% on the day Wednesday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow:
Friday 6/23 Insider Buying Report: CODI, TFX
Thursday 6/22 Insider Buying Report: ATNX, JUNO
Wednesday 6/21 Insider Buying Report: ACOR, SBBX
Nasdaq 100 Movers: REGN, MNST
S&P 500 Movers: BBBY, EQT
Dow Movers: NKE, PG
S&P 500 Analyst Moves: PM
Dow Analyst Moves: AXP
S&P 500 Analyst Moves: SNPS
Friday Sector Laggards: Grocery & Drug Stores, Banking & Savings
Friday Sector Leaders: Shipping, Semiconductors
Thursday Sector Laggards: Entertainment, Banking & Savings
Friday's ETF with Unusual Volume: IXC
Friday's ETF Movers: XME, IAT
HYG, RALS: Big ETF Outflows
Daily Dividend Report: MDT, ABBV, DTE, XRAY, UDR, SNX, BBBY, CHS
Daily Dividend Report: ORCL, LMT, KR, NRZ, SRE, MAS, PNW, AIT
Daily Dividend Report: IEX, TOL, APLE, CMC, KFY, WDR
Fed Tapers Bond Buying
Nonfarm payroll Employment Up 175,000 in February
Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4
Weekly Market Wrap: August 14, 2015
Weekly Market Wrap: August 7, 2015
Weekly Market Wrap: July 31, 2015
Week Ahead Market Report: June 8, 2015
Week Ahead Market Report: May 18, 2015
Week Ahead Market Report: May 4, 2015