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 Javelin Mortgage Investment Corp (JMI), a filing with the SEC revealed that on Wednesday, CIO Scott Ulm purchased 5,000 shares of JMI, at a cost of $9.89 each, for a total investment of $49,473. Javelin Mortgage Investment Corp is trading up about 1.1% on the day Wednesday. This buy marks the first one filed by Ulm in the past year.
And at Wells Fargo Advantage Global Dividend (NYSE:EOD), there was insider buying on Monday, by Director William R. Ebsworth who purchased 2,000 shares for a cost of $7.33 each, for a trade totaling $14,662. This buy marks the first one filed by Ebsworth in the past twelve months. Wells Fargo Advantage Global Dividend is trading up about 2% on the day Wednesday. Ebsworth was up about 3.0% on the buy at the high point of today's trading session, with EOD trading as high as $7.55 at last check today.
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