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 Monday, Walgreens Boots Alliance (NASDAQ:WBA)'s Co-Chief Operating Officer, Ornella Barra, made a $110.76M purchase of WBA, buying 1,700,000 shares at a cost of $65.15 each. Barra was up about 2.4% on the purchase at the high point of today's trading session, with WBA trading as high as $66.72 in trading on Wednesday. Walgreens Boots Alliance is trading up about 1.4% on the day Wednesday.
And on Tuesday, Director Randall C. Barnes purchased $107,661 worth of Guggenheim Strategic Opportunities Fund (NYSE:GOF), purchasing 5,100 shares at a cost of $21.11 a piece. Before this latest buy, Barnes bought GOF at 3 other times during the past twelve months, for a total investment of $133,956 at an average of $20.43 per share. Guggenheim Strategic Opportunities Fund is trading up about 0.6% on the day Wednesday.
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