Monday 6/29 Insider Buying Report: TYG, MDV
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 Thursday, Tortoise Energy Infrastructure Fund's Director, Conrad S. Ciccotello, made a $173,480 purchase of TYG, buying 4,107 shares at a cost of $42.24 a piece. Ciccotello was up about 1.4% on the buy at the high point of today's trading session, with TYG trading as high as $42.85 at last check today. Tortoise Energy Infrastructure Fund is trading off about 0.6% on the day Monday.
And at Modiv Industrial, there was insider buying on Friday, by CEO and President Aaron Scott Halfacre who bought 5,766 shares for a cost of $17.49 each, for a total investment of $100,859. This purchase marks the first one filed by Halfacre in the past twelve months. Modiv Industrial is trading down about 1.6% on the day Monday.
VIDEO: Monday 6/29 Insider Buying Report: TYG, MDV