Thursday 1/9 Insider Buying Report: HT, SWZ Thursday, January 9, 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 Tuesday, Hersha Hospitality Trust (HT)'s COO, Neil H. Shah, made a $98,629 purchase of HT, buying 7,300 shares at a cost of $13.51 each. So far Shah is in the green, up about 2.7% on their buy based on today's trading high of $13.88. Hersha Hospitality Trust is trading up about 0.6% on the day Thursday. Before this latest buy, Shah purchased HT on 6 other occasions during the past year, for a total cost of $397,886 at an average of $14.40 per share.
And on Monday, Director Phillip Goldstein purchased $9,046 worth of Swiss Helvetia Fund (SWZ), purchasing 1,086 shares at a cost of $8.33 a piece. Before this latest buy, Goldstein purchased SWZ at 3 other times during the past twelve months, for a total investment of $595,514 at an average of $8.13 per share. Swiss Helvetia Fund is trading down about 0.8% on the day Thursday. Goldstein was up about 1.9% on the purchase at the high point of today's trading session, with SWZ trading as high as $8.49 in trading on Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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