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Strong Insider Buying Found in the Underlying Holdings of BIZD

Stocks in this article: NMFC

A look at the weighted underlying holdings of the BDC Income ETF (BIZD) shows an impressive 31.8% of holdings on a weighted basis have experienced insider buying within the past six months.

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New Mountain Finance Corp (NMFC), which makes up 2.02% of the BDC Income ETF (BIZD), has seen 7 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $587,470 worth of NMFC, making it the #17 largest holding. The table below details the recent insider buying activity observed at NMFC:

NMFC — last trade: $14.69 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
08/13/2013 James Stone Section 16 Officer 8,560 $14.59 $124,919.86
08/13/2013 Robert Hamwee CEO, President and Director 15,000 $14.65 $219,820.80
08/13/2013 Adam Weinstein EVP, CAO and Director 2,400 $14.65 $35,160.00
08/15/2013 John Kline COO and EVP 3,000 $14.58 $43,740.00
08/19/2013 David M. Cordova CFO & Treasurer 500 $14.50 $7,250.00
09/12/2013 James Stone Section 16 Officer 3,500 $14.44 $50,539.85
11/20/2013 Kurt Wolfgruber Director 11,500 $14.44 $166,029.70
12/11/2013 David M. Cordova CFO and Treasurer 500 $15.00 $7,500.00
12/13/2013 James Stone Section 16 Officer 3,500 $14.69 $51,404.15
12/17/2013 Paula Bosco Chief Compliance Officer 25 $14.85 $371.25

And MVC Capital (MVC), the #19 largest holding among components of the BDC Income ETF (BIZD), shows 3 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $514,523 worth of MVC, which represents approximately 1.77% of the ETF's total assets at last check. The recent insider buying activity observed at MVC is detailed in the table below:

MVC — last trade: $14.14 — Recent Insider Buys:

Purchased Insider Title Shares Price/Share Value
08/21/2013 Phillip Goldstein Director 6,639 $12.30 $81,688.91
09/12/2013 Phillip Goldstein Director 17,182 $12.69 $218,039.20
09/13/2013 Phillip Goldstein Director 157,879 $12.70 $2,005,063.30
01/16/2014 Robert C. Knapp Director 35,882 $13.78 $494,582.74
01/16/2014 Bruce W. Shewmaker Managing Director 3,000 $13.85 $41,535.00
01/17/2014 Robert C. Knapp Director 2,512 $13.89 $34,891.68
01/23/2014 Robert C. Knapp Director 14,856 $14.25 $211,698.00
01/24/2014 Robert C. Knapp Director 25,000 $14.20 $355,000.00

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