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 Sprott Focus Trust, a filing with the SEC revealed that on Monday, W. Whitney George purchased 323,896 shares of FUND, at a cost of $7.27 each, for a total investment of $2.35M. So far George is in the green, up about 1.8% on their purchase based on today's trading high of $7.40. Sprott Focus Trust is trading up about 0.8% on the day Friday. This buy marks the first one filed by George in the past twelve months.
And at enVVeno Medical, there was insider buying on Tuesday, by Director Francis Duhay who purchased 81,433 shares at a cost of $3.07 each, for a total investment of $249,999. This purchase marks the first one filed by Duhay in the past year. enVVeno Medical is trading up about 9.1% on the day Friday. Duhay was up about 11.8% on the buy at the high point of today's trading session, with NVNO trading as high as $3.43 in trading on Friday.
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