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 Golub Capital BDC, a filing with the SEC revealed that on Wednesday, Chief Executive Officer David Golub purchased 40,000 shares of GBDC, at a cost of $14.93 each, for a total investment of $597,000. Golub Capital BDC Inc is trading up about 0.7% on the day Monday. Before this latest buy, Golub bought GBDC on 7 other occasions during the past year, for a total cost of $11.5M at an average of $15.70 per share.
And at Gabelli Dividend & Income Trust, there was insider buying on Wednesday, by Director Mario J. Gabelli who purchased 8,000 shares for a cost of $23.80 each, for a trade totaling $190,362. Before this latest buy, Gabelli purchased GDV on 2 other occasions during the past year, for a total investment of $90,989 at an average of $22.75 per share. Gabelli Dividend & Income Trust is trading up about 0.1% on the day Monday. Investors are able to pick up GDV even cheaper than Gabelli did, with the stock trading as low as $23.35 in trading on Monday which is 1.9% under Gabelli's purchase price.
VIDEO: Monday 9/9 Insider Buying Report: GBDC, GDV
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