Thursday 5/29 Insider Buying Report: ERII, GDL

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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 Energy Recovery ( ERII ), a filing with the SEC revealed that on Tuesday, Director Dominique Trempont bought 39,566 shares of ERII, at a cost of $4.74 each, for a total investment of $187,402. Trempont was up about 11.9% on the purchase at the high point of today's trading session, with ERII trading as high as $5.30 at last check today. Energy Recovery is trading up about 0.2% on the day Thursday. Before this latest buy, Trempont made one other buy in the past twelve months, purchasing $299,899 shares at a cost of $4.64 a piece.


And also on Tuesday, Director Mario J. Gabelli purchased $119,350 worth of GDL Fund ( GDL ), purchasing 11,000 shares at a cost of $10.85 each. Before this latest buy, Gabelli bought GDL on 7 other occasions during the past year, for a total investment of $331,960 at an average of $10.97 per share. GDL Fund is trading trading flat on the day Thursday.

Thursday 5/29 Insider Buying Report: ERII, GDL VIDEO: Thursday 5/29 Insider Buying Report: ERII, GDL



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas

Referenced Stocks: ERII , GDL

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