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.
On Thursday, Nexpoint Credit Strategies Fund (
)'s, James D. Dondero, made a $1.36M buy of NHF, purchasing 110,127
shares at a cost of $12.33 a piece. Investors are able to snag NHF
even cheaper than Dondero did, with shares trading as low as $12.06
at last check today which is 2.2% below Dondero's purchase price.
Nexpoint Credit Strategies Fund is trading off about 0.4% on the
day Monday. Before this latest buy, Dondero bought NHF at 11 other
times during the past year, for a total investment of $14.10M at an
average of $9.53 per share.
And on Wednesday, William H. Gross purchased $691,595 worth of
PIMCO Dynamic Credit Income Fund (
), purchasing 29,500 shares at a cost of $23.44 a piece. Before
this latest buy, Gross purchased PCI on 30 other occasions during
the past twelve months, for a total investment of $70.61M at an
average of $23.25 per share. PIMCO Dynamic Credit Income Fund is
trading trading flat on the day Monday.
VIDEO: Monday 7/28 Insider Buying Report: NHF,