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.
On Friday, J.Jill (NYSE:JILL)'s Director, Travis Nelson, made a $499,799 buy of JILL, purchasing 100,000 shares at a cost of $5.00 each. Nelson was up about 10.0% on the purchase at the high point of today's trading session, with JILL trading as high as $5.50 in trading on Tuesday. J.Jill is trading up about 11.4% on the day Tuesday.
And also on Friday, Vice President William A. Siffermann bought $2,617 worth of Nuveen Dividend Advantage Municipal Fund (NYSE:NAD), buying 200 shares at a cost of $13.09 each. Nuveen Dividend Advantage Municipal Fund is trading off about 0.1% on the day Tuesday. So far Siffermann is in the green, up about 0.7% on their purchase based on today's trading high of $13.18.
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