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 Monday, MSB Financial (MSBF)'s Director, Robert D. Vollers, made a $79,190 purchase of MSBF, buying 6,291 shares at a cost of $12.59 a piece. Vollers was up about 0.5% on the purchase at the high point of today's trading session, with MSBF trading as high as $12.65 at last check today. MSB Financial is trading trading flat on the day Wednesday.
And at Advent Claymore Convertible Securities and Income Fund (AVK), there was insider buying on Tuesday, by Director Daniel Black who purchased 2,000 shares at a cost of $13.71 each, for a total investment of $27,420. Advent Claymore Convertible Securities and Income Fund is trading off about 0.9% on the day Wednesday. Bargain hunters can buy AVK at a price even lower than Black did, with the stock changing hands as low as $13.57 at last check today which is 1.0% under Black's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.