Wednesday 7/31 Insider Buying Report: RMM, NSC Wednesday, July 31, 10:31 AM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let's look at two noteworthy recent insider buys.
On Friday, Rivernorth Managed Duration Municipal Income Fund (RMM)'s President, Patrick W. Galley, made a $200,000 purchase of RMM, buying 10,000 shares at a cost of $20.00 a piece. Rivernorth Managed Duration Municipal Income Fund is trading trading flat on the day Wednesday.
And on Monday, Director Jennifer F. Scanlon purchased $100,546 worth of Norfolk Southern Corp (NSC), purchasing 525 shares at a cost of $191.52 each. This purchase marks the first one filed by Scanlon in the past twelve months. Norfolk Southern Corp is trading off about 0.1% on the day Wednesday. Scanlon was up about 0.7% on the purchase at the high point of today's trading session, with NSC trading as high as $192.81 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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