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 two noteworthy recent insider buys.
On Tuesday, PIMCO Municipal Income Fund II ( PML )'s , William H. Gross, made a $735,726 buy of PML, purchasing 61,692 shares at a cost of $11.93 each. Gross was up about 1.1% on the buy at the high point of today's trading session, with PML trading as high as $12.06 in trading on Thursday. PIMCO Municipal Income Fund II is trading up about 0.2% on the day Thursday. This buy marks the first one filed by Gross in the past twelve months.
And on Monday, Director James M. Loree bought $604,070 worth of Harsco ( HSC ), buying 23,000 shares at a cost of $26.26 a piece. Harsco is trading down about 3.6% on the day Thursday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
