There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on July 7, PIMCO Dynamic Income Strategy Fundhares O's Director, Kathleen Ann McCartney, invested $99,893.61 into 4,032 shares of PDX, for a cost per share of $24.78. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Friday, bargain hunters could buy shares of PIMCO Dynamic Income Strategy Fundhares O (NYSE:PDX) and achieve a cost basis even cheaper than McCartney, with shares changing hands as low as $24.77 per share. It should be noted that McCartney has collected $0.13/share in dividends since the time of their purchase, so they are currently up 0.5% on their purchase from a total return basis. PIMCO Dynamic Income Strategy Fundhares O shares are currently trading off about 1.1% on the day. The chart below shows the one year performance of PDX shares, versus its 200 day moving average:
Looking at the chart above, PDX's low point in its 52 week range is $19.26 per share, with $32.8807 as the 52 week high point — that compares with a last trade of $24.76. By comparison, below is a table showing the prices at which PDX insider buying was recorded over the last six months:
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One Reason For Insiders to Buy
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