Insiders Were Right: MVC Makes New 52-Week High

In trading on Tuesday, shares of MVC Capital (MVC) touched a new 52-week high of $14.72/share. That's a 21.15% rise, or $2.57 per share from the 52-week low of $12.15 set back on 08/19/2013. That means at today's intraday high, any investor who purchased MVC stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, MVC has seen 3 different instances of insiders buying over the trailing six month period.

START SLIDESHOW:
Ten Bargains You Can Buy Cheaper Than The Insiders Did »

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

The chart below shows where MVC has traded over the past year, with the 50-day and 200-day moving averages included.

MVC Capital Moving Averages Chart

In afternoon trading on Tuesday, MVC shares are changing hands at $14.71/share, slightly below the new 52-week high.

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