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.
At Guggenheim Strategic Opportunities Fund (NYSE:GOF), a filing with the SEC revealed that on Tuesday, Director Randall C. Barnes purchased 5,275 shares of GOF, for a cost of $18.98 each, for a total investment of $100,096. Guggenheim Strategic Opportunities Fund is trading up about 0.4% on the day Thursday. Before this latest buy, Barnes bought GOF at 6 other times during the past year, for a total investment of $335,426 at an average of $20.54 per share.
And also on Tuesday, Director Steve Bartlett bought $3,234 worth of Ares Capital Corporation (NASDAQ:ARCC), buying 200 shares at a cost of $16.17 a piece. Before this latest buy, Bartlett purchased ARCC at 9 other times during the past year, for a total cost of $29,556 at an average of $16.42 per share. Ares Capital Corporation is trading up about 0.1% on the day Thursday. Bargain hunters have the opportunity to bag ARCC even cheaper than Bartlett did, with shares trading as low as $15.96 in trading on Thursday which is 1.3% below Bartlett's purchase price.
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