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.
On Tuesday, Vermillion (NASDAQ:VRML)'s , Henri George Schuler, made a $2.11M buy of VRML, purchasing 2,107,774 shares at a cost of $1.00 a piece. Schuler was up about 16.8% on the buy at the high point of today's trading session, with VRML trading as high as $1.17 at last check today. Vermillion is trading off about 0.4% on the day Friday. This buy marks the first one filed by Schuler in the past year.
And on Wednesday, Director Oleg M. Pohotsky purchased $87,000 worth of New America High Income Fund (NYSE:HYB), purchasing 10,000 shares at a cost of $8.70 each. This buy marks the first one filed by Pohotsky in the past year. New America High Income Fund is trading down about 0.3% on the day Friday. Thus far Pohotsky is down about 0.8% on the buy, with the stock trading as low as $8.63 in trading on Friday.
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