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 Norwood Financial Corp. (NASDAQ:NWFL), a filing with the SEC revealed that on Thursday, Director Joseph W. Adams bought 1,030 shares of NWFL, for a cost of $29.34 each, for a total investment of $30,220. Norwood Financial Corp. is trading up about 0.1% on the day Friday.
And at GAMCO Global Gold, Natural Resources & Income Trust (AMEX:GGN), there was insider buying on Tuesday, by Director Michael J. Melarkey who purchased 3,953 shares for a cost of $3.99 each, for a total investment of $15,770. This purchase marks the first one filed by Melarkey in the past twelve months. GAMCO Global Gold, Natural Resources & Income Trust is trading up about 1.4% on the day Friday. Melarkey was up about 2.0% on the purchase at the high point of today's trading session, with GGN trading as high as $4.07 at last check today.
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