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 Eaton Vance Senior Income Trust (NYSE:EVF), a filing with the SEC revealed that on Friday, Keith Quinton purchased 7,700 shares of EVF, for a cost of $6.49 each, for a total investment of $49,973. So far Quinton is in the green, up about 0.9% on their buy based on today's trading high of $6.55. Eaton Vance Senior Income Trust is trading down about 0.3% on the day Tuesday. This buy marks the first one filed by Quinton in the past year.
And also on Friday, Keith Quinton purchased $49,009 worth of Eaton Vance Senior Floating-Rate Trust (NYSE:EFR), purchasing 3,600 shares at a cost of $13.61 each. This buy marks the first one filed by Quinton in the past year. Eaton Vance Senior Floating-Rate Trust is trading up about 0.1% on the day Tuesday. Quinton was up about 0.6% on the buy at the high point of today's trading session, with EFR trading as high as $13.69 at last check today.
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