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 Invesco High Income 2023 Target Term Fund, a filing with the SEC revealed that on Tuesday, Robert C. Troccoli purchased 19,940 shares of IHIT, at a cost of $10.56 each, for a total investment of $210,566. Troccoli was up about 1.3% on the purchase at the high point of today's trading session, with IHIT trading as high as $10.70 in trading on Friday. Invesco High Income 2023 Target Term Fund is trading up about 0.5% on the day Friday. This purchase marks the first one filed by Troccoli in the past twelve months.
And on Wednesday, Director Anne C. Kronenberg bought $199,995 worth of Kinsale Capital Group, buying 2,293 shares at a cost of $87.22 each. Kinsale Capital Group Inc is trading up about 2.4% on the day Friday.
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