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 October 15, TCP Capital Corp.'s Director, Peter E. Schwab, invested $77,050.00 into 5,000 shares of TCPC, for a cost per share of $15.41. 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 Tuesday, bargain hunters could buy shares of TCP Capital Corp. ( TCPC) and achieve a cost basis even cheaper than Schwab, with shares changing hands as low as $15.39 per share. It should be noted that Schwab has collected $0.41/share in dividends since the time of their purchase, so they are currently up 2.5% on their purchase from a total return basis. TCP Capital Corp. shares are currently trading off about 1.5% on the day. The chart below shows the one year performance of TCPC shares, versus its 200 day moving average: Looking at the chart above, TCPC's low point in its 52 week range is $15.03 per share, with $18.55 as the 52 week high point — that compares with a last trade of $15.47. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
|10/10/2014||Mark Holdsworth||Authorized Person||5,000||$15.81||$79,052.50|
|10/15/2014||Eric John Draut||Director||1,000||$15.21||$15,210.00|
|10/15/2014||Elizabeth Greenwood||CCO and Secretary||1,000||$15.21||$15,205.00|
|10/15/2014||Rajneesh Vig||President and COO||3,000||$15.19||$45,556.08|
|10/15/2014||Peter E. Schwab||Director||5,000||$15.41||$77,050.00|
According to the ETF Finder at ETF Channel, TCPC makes up 4.21% of the BDC Income ETF ( BIZD) which is trading lower by about 1.1% on the day Tuesday.