Monday 1/14 Insider Buying Report: AVK, ENOB Monday, January 14, 10:31 AM 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 Wednesday, Advent Claymore Convertible Securities and Income Fund (AVK)'s , Capital Management /DE/ Advent, made a $203,010 purchase of AVK, buying 15,000 shares at a cost of $13.53 a piece. Advent Claymore Convertible Securities and Income Fund is trading off about 0.9% on the day Monday. Before this latest buy, Advent bought AVK on 4 other occasions during the past twelve months, for a total investment of $1.55M at an average of $15.49 per share.
And at Enochian Biosciences (ENOB), there was insider buying on Thursday, by Director Henrik Gronfeldt-Sorensen who bought 50,000 shares for a cost of $2.00 each, for a trade totaling $100,000. Enochian Biosciences is trading off about 3.5% on the day Monday. Gronfeldt-Sorensen was up about 362.5% on the buy at the high point of today's trading session, with ENOB trading as high as $9.25 in trading on Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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