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Stocks: Bill Gross Buys Shares of a Pimco Fund

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Plus, purchases at Karyopharm, TrueCar, and Banc of California.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside purchases recently filed with the SEC.

Notable Purchases:
  • Bill Gross, cofounder of Pimco, bought 186,249 shares of the nondiversified, closed-end management investment company Pimco Dynamic Credit Income Fund (NYSE:PCI) for $4,380,223.
  • Deepa Pakianathan, a director at clinical-stage pharmaceutical company Karyopharm (NASDAQ:KPTI), bought 114,419 shares of company stock for $2,995,462.
  • Scott Painter, chairman and CEO of Internet-based information, technology, and communication services company TrueCar (NASDAQ:TRUE), bought 166,600 shares of company stock for $1,499,400.
  • Steven Sugarman, chairman and CEO of multibank holding company Banc of California (NASDAQ:BANC), bought 35,000 shares of company stock for $363,300.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
BO
JB*
$6,250,000
2
O
B
$4,380,223
3
DIR
B
$2,995,462
4
CEO,CB,BO
JB*
$1,499,400
5
BO
JB*
$1,230,137
6
O
B
$965,122
7
CEO,CB,DIR
B
$363,300
8
CEO,DIR
B
$332,648
9
BO
B
$292,960
10
CB,PT
B
$201,987

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
CB,DIR
S
$7,550,972
2
CB,DIR
AS
$7,463,232
3
CB,DIR
JS*
$5,504,488
4
BO
S
$4,814,208
5
CB,PR,CEO
AS
$4,125,512
6
VCB,PR
AS
$3,366,872
7
VP,CFO
S
$3,340,874
8
DIR
S
$3,169,000
9
CEO,DIR
AS
$3,078,428
10
VP
S
$2,718,600

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

An important note from Jonathan Moreland, founder of Insider Insights:

In a victory for common sense, it has been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders."

Please note, however, that the lists above are strictly factual; they are not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

Jonathan Moreland is also the author of "Profit From Legal Insider Trading."
No positions in stocks mentioned.
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