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 Biogen (NASDAQ:BIIB), a filing with the SEC revealed that on Friday, Director Alexander J. Denner bought 62,800 shares of BIIB, for a cost of $327.59 each, for a total investment of $20.57M. Biogen is trading down about 0.9% on the day Monday. Before this latest buy, Denner made one other buy in the past twelve months, purchasing $12.96M shares at a cost of $269.91 a piece.
And at PIMCO Energy and Tactical Credit Opportunities Fund (NYSE:NRGX), there was insider buying on Wednesday, by Mark R. Kiesel who bought 280,000 shares at a cost of $20.00 each, for a total investment of $5.6M. This buy marks the first one filed by Kiesel in the past twelve months. PIMCO Energy and Tactical Credit Opportunities Fund is trading up about 0.8% on the day Monday. Kiesel was up about 1.4% on the buy at the high point of today's trading session, with NRGX trading as high as $20.28 in trading on Monday.
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.