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.
At Kayne Anderson Midstream/Energy Fund, a filing with the SEC revealed that on Tuesday, Pesident James C. Baker bought 20,000 shares of KMF, at a cost of $13.00 each, for a total investment of $260,044. Bargain hunters are able to grab KMF even cheaper than Baker did, with the stock trading as low as $12.87 at last check today which is 1.0% under Baker's purchase price. Kayne Anderson Midstream/Energy Fund is trading down about 0.3% on the day Friday. This buy marks the first one filed by Baker in the past year.
And also on Tuesday, Victoire G. Rankin bought $186,428 worth of Hyster-Yale Materials Handling, buying 3,001 shares at a cost of $62.12 a piece. Before this latest buy, Rankin purchased HY on 10 other occasions during the past year, for a total cost of $835,684 at an average of $63.21 per share. Hyster-Yale Materials Handling is trading off about 0.3% on the day Friday.
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