As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let's look at two noteworthy recent insider buys.
On Monday, Nuveen Municipal Income Fund (NYSE:NMI)'s , Young L. Robert, made a $100,036 buy of NMI, purchasing 9,582 shares at a cost of $10.44 a piece. So far Robert is in the green, up about 0.7% on their buy based on today's trading high of $10.51. Nuveen Municipal Income Fund is trading up about 0.4% on the day Thursday. This purchase marks the first one filed by Robert in the past twelve months.
And at Nuveen Municipal Value Fund II (NYSE:NUW), there was insider buying on Monday, by Young L. Robert who purchased 6,490 shares for a cost of $15.41 each, for a total investment of $100,011. Nuveen Municipal Value Fund II is trading flat on the day Thursday. Robert was up about 1.8% on the purchase at the high point of today's trading session, with NUW trading as high as $15.69 in trading on Thursday.
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