Insiders Were Right: KYN Makes New 52-Week High

In trading on Monday, shares of Kayne Anderson MLP Investment Company ( KYN) touched a new 52-week high of $40.41/share. That's a 17.40% rise, or $5.98999999999999 per share from the 52-week low of $34.42 set back on 10/09/2013. That means at today's intraday high, any investor who purchased KYN 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, KYN has seen 3 different instances of insiders buying over the trailing six month period.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

Purchased Insider Title Shares Price/Share Value
02/20/2014 James C. Baker Executive Vice President 20,955 $37.03 $776,062.75
02/20/2014 Jody Meraz Vice President 938 $37.05 $34,752.90
03/14/2014 Gerald I. Isenberg Director 700 $36.45 $25,515.00

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

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