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 cash to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Thursday, PIMCO Dynamic Income Fund ( PDI )'s , William H. Gross, made a $329,789 purchase of PDI, buying 10,000 shares at a cost of $32.98 each. Gross was up about 1.4% on the buy at the high point of today's trading session, with PDI trading as high as $33.43 at last check today. PIMCO Dynamic Income Fund is trading up about 0.9% on the day Monday. Before this latest buy, Gross purchased PDI on 24 other occasions during the past twelve months, for a total cost of $33.84M at an average of $31.67 per share.
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