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Wednesday 8/13 Insider Buying Report: PCN, PML

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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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

At PIMCO Corporate Income Fund ( PCN ), a filing with the SEC revealed that on Friday, William H. Gross bought 32,472 shares of PCN, at a cost of $16.24 each, for a total investment of $527,303. So far Gross is in the green, up about 1.0% on their buy based on today's trading high of $16.40. PIMCO Corporate Income Fund is trading up about 0.4% on the day Wednesday. Before this latest buy, Gross bought PCN at 3 other times during the past year, for a total investment of $2.34M at an average of $16.17 per share.

And also on Friday, William H. Gross purchased $364,671 worth of PIMCO Municipal Income Fund II ( PML ), purchasing 31,049 shares at a cost of $11.74 each. Before this latest buy, Gross purchased PML on 4 other occasions during the past year, for a total investment of $1.82M at an average of $11.89 per share. PIMCO Municipal Income Fund II is trading up about 0.3% on the day Wednesday.

VIDEO: Wednesday 8/13 Insider Buying Report: PCN, PML

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.

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