There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 12, Triangle Capital Corporation's CEO, Garland S. Tucker III, invested $24,779.00 into 1,100 shares of TCAP, for a cost per share of $22.53. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.In trading on Monday, bargain hunters could buy shares of Triangle Capital Corporation ( TCAP) and achieve a cost basis even cheaper than Tucker III, with shares changing hands as low as $22.35 per share. Triangle Capital Corporation shares are currently trading off about 0.7% on the day. The chart below shows the one year performance of TCAP shares, versus its 200 day moving average: Looking at the chart above, TCAP's low point in its 52 week range is $21.68 per share, with $29.95 as the 52 week high point — that compares with a last trade of $22.40. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
|11/12/2014||Garland S. Tucker III||Chairman and CEO||1,100||$22.53||$24,779.00|
According to the ETF Finder at ETF Channel, TCAP makes up 3.52% of the BDC Income ETF ( BIZD) which is trading lower by about 0.2% on the day Monday.