Tuesday 4/22 Insider Buying Report: NHF, ARCP Tuesday, April 22, 12:30 PM ET
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.
At Nexpoint Credit Strategies Fund (NHF), a filing with the SEC revealed that on Thursday, James D. Dondero purchased 117,768 shares of NHF, for a cost of $11.18 each, for a total investment of $1.32M. Dondero was up about 0.7% on the buy at the high point of today's trading session, with NHF trading as high as $11.26 in trading on Tuesday. Nexpoint Credit Strategies Fund is trading up about 0.2% on the day Tuesday. Before this latest buy, Dondero purchased NHF at 12 other times during the past twelve months, for a total cost of $14.4M at an average of $8.59 per share.
And at American Realty Capital Properties Inc (ARCP), there was insider buying on Monday, by Director Edward M. Weil Jr. who purchased 7,500 shares for a cost of $13.28 each, for a trade totaling $99,593. Before this latest buy, Weil Jr. bought ARCP on 3 other occasions during the past year, for a total investment of $679,972 at an average of $13.60 per share. American Realty Capital Properties Inc is trading up about 1.1% on the day Tuesday. Weil Jr. was up about 1.7% on the purchase at the high point of today's trading session, with ARCP trading as high as $13.51 in trading on Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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