Monday 7/28 Insider Buying Report: NHF, PCI
Monday, July 28, 12:35 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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Nexpoint Credit Strategies Fund (NHF)'s, James D. Dondero, made a $1.36M buy of NHF, purchasing 110,127 shares at a cost of $12.33 a piece. Investors are able to snag NHF even cheaper than Dondero did, with shares trading as low as $12.06 at last check today which is 2.2% below Dondero's purchase price. Nexpoint Credit Strategies Fund is trading off about 0.4% on the day Monday. Before this latest buy, Dondero bought NHF at 11 other times during the past year, for a total investment of $14.10M at an average of $9.53 per share.
And on Wednesday, William H. Gross purchased $691,595 worth of PIMCO Dynamic Credit Income Fund (PCI), purchasing 29,500 shares at a cost of $23.44 a piece. Before this latest buy, Gross purchased PCI on 30 other occasions during the past twelve months, for a total investment of $70.61M at an average of $23.25 per share. PIMCO Dynamic Credit Income Fund is trading trading flat on the day Monday.
For MarketNewsVideo.com, I'm Kristin Bianco.
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