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 Wednesday, Advent Claymore Convertible Securities and Income Fund (NYSE:AVK)'s CEO, Tracy V. Maitland, made a $293,958 purchase of AVK, buying 20,000 shares at a cost of $14.70 each. Investors can snag AVK even cheaper than Maitland did, with shares changing hands as low as $14.43 in trading on Monday — that's 1.8% below Maitland's purchase price. Advent Claymore Convertible Securities and Income Fund is trading flat on the day Monday. Before this latest buy, Maitland bought AVK on 3 other occasions during the past year, for a total cost of $1.26M at an average of $15.69 per share.
And at New York REIT (NYRT), there was insider buying on Friday, by Director Howard Goldberg who bought 10,000 shares at a cost of $14.22 each, for a trade totaling $142,250. New York REIT is trading up about 0.6% on the day Monday. So far Goldberg is in the green, up about 1.0% on their purchase based on today's trading high of $14.37.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 9.5%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 9.5%.