Friday 3/22 Insider Buying Report: CIO, GLO
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.
On Tuesday, City Office REIT's , Michael Mazan, made a $164,771 purchase of CIO, buying 39,000 shares at a cost of $4.22 each. So far Mazan is in the green, up about 20.0% on their purchase based on today's trading high of $5.07. City Office REIT is trading down about 1% on the day Friday.
And at Clough Global Opportunities Fund, there was insider buying on Wednesday, by Charles Clough Jr. who bought 20,000 shares for a cost of $5.01 each, for a total investment of $100,200. Before this latest buy, Clough Jr. purchased GLO on 6 other occasions during the past year, for a total investment of $394,640 at an average of $4.93 per share. Clough Global Opportunities Fund is trading trading flat on the day Friday. So far Clough Jr. is in the green, up about 2.0% on their purchase based on today's trading high of $5.11.
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