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 Monday, Energy Transfer Partners LP (NYSE:ETP)'s Chief Executive Officer, Kelcy L. Warren, made a $44.85M purchase of ETP, buying 2,000,000 shares at a cost of $22.42 a piece. So far Warren is in the green, up about 1.7% on their buy based on today's trading high of $22.80. Energy Transfer Partners LP is trading up about 0.7% on the day Tuesday.
And at Advent Claymore Convertible Securities and Income Fund (NYSE:AVK), there was insider buying on Thursday, by CEO Tracy V. Maitland who bought 50,000 shares at a cost of $15.68 each, for a trade totaling $784,242. This buy marks the first one filed by Maitland in the past year. Advent Claymore Convertible Securities and Income Fund is trading up about 0.1% on the day Tuesday.
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