As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Sun Communities (NYSE:SUI), a filing with the SEC revealed that on Friday, Director Randall K. Rowe bought 25,664 shares of SUI, at a cost of $50.00 each, for a total investment of $1.28M. Rowe was up about 28.1% on the buy at the high point of today's trading session, with SUI trading as high as $64.06 at last check today. Sun Communities is trading up about 0.8% on the day Wednesday. This purchase marks the first one filed by Rowe in the past twelve months.
And on Monday, Robert M. Ettinger purchased $298,837 worth of Flaherty & Crumrine Dynamic Preferred & Income Fund (NYSE:DFP), purchasing 13,658 shares at a cost of $21.88 a piece. Before this latest buy, Ettinger made one other purchase in the past twelve months, buying $102,802 shares for a cost of $22.84 each. Flaherty & Crumrine Dynamic Preferred & Income Fund is trading up about 0.1% on the day Wednesday. Ettinger was up about 0.4% on the purchase at the high point of today's trading session, with DFP trading as high as $21.96 at last check today.
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