Credit: Shutterstock photoAs 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 Guggenheim Strategic Opportunities Fund ( GOF ), a filing with the SEC revealed that on Tuesday, Director Randall C. Barnes purchased 5,275 shares of GOF, for a cost of $18.98 each, for a total investment of $100,096. Guggenheim Strategic Opportunities Fund is trading up about 0.4% on the day Thursday. Before this latest buy, Barnes bought GOF at 6 other times during the past year, for a total investment of $335,426 at an average of $20.54 per share.
And also on Tuesday, Director Steve Bartlett bought $3,234 worth of Ares Capital Corporation ( ARCC ), buying 200 shares at a cost of $16.17 a piece. Before this latest buy, Bartlett purchased ARCC at 9 other times during the past year, for a total cost of $29,556 at an average of $16.42 per share. Ares Capital Corporation is trading up about 0.1% on the day Thursday. Bargain hunters have the opportunity to bag ARCC even cheaper than Bartlett did, with shares trading as low as $15.96 in trading on Thursday which is 1.3% below Bartlett's purchase price.
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.
