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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Alpine Total Dynamic Dividend Fund (NYSE:AOD), a filing with the SEC revealed that on Monday, President Samuel A. Lieber bought 100,000 shares of AOD, for a cost of $8.04 each, for a total investment of $804,290. Bargain hunters can pick up AOD at a price even lower than Lieber did, with shares changing hands as low as $7.85 at last check today which is 2.4% below Lieber's purchase price. Alpine Total Dynamic Dividend Fund is trading up about 1% on the day Wednesday. This purchase marks the first one filed by Lieber in the past twelve months.
And also on Monday, Director Debra A. Cafaro bought $499,245 worth of Weyerhaeuser (NYSE:WY), buying 17,850 shares at a cost of $27.97 a piece. Weyerhaeuser is trading up about 1% on the day Wednesday. So far Cafaro is down about 0.9% on the purchase, with shares changing hands as low as $27.71 in trading on Wednesday.
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