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 Sprott Focus Trust (FUND), a filing with the SEC revealed that on Monday, W. Whitney George bought 179,607 shares of FUND, at a cost of $8.18 each, for a total investment of $1.47M. George was up about 1.8% on the purchase at the high point of today's trading session, with FUND trading as high as $8.32 in trading on Thursday. Sprott Focus Trust is trading up about 0.2% on the day Thursday. Before this latest buy, George purchased FUND on 3 other occasions during the past year, for a total investment of $5.27M at an average of $7.32 per share.
And at Ambac Financial Group (AMBC), there was insider buying on Wednesday, by Chief Executive Officer Claude Leblanc who purchased 25,000 shares at a cost of $8.54 each, for a total investment of $213,500. Before this latest buy, Leblanc purchased AMBC on 2 other occasions during the past twelve months, for a total investment of $435,750 at an average of $6.70 per share. Ambac Financial Group, Inc. is trading up about 8% on the day Thursday.
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