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 May 12, Western Asset Mortgage Capital Corp's President, CEO, Gavin L. James, invested $22,245.00 into 1,500 shares of WMC, for a cost per share of $14.83. 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 Thursday, bargain hunters could buy shares of Western Asset Mortgage Capital Corp ( WMC) and achieve a cost basis even cheaper than James, with shares changing hands as low as $14.71 per share. Western Asset Mortgage Capital Corp shares are currently trading up about 0.1% on the day. The chart below shows the one year performance of WMC shares, versus its 200 day moving average: Looking at the chart above, WMC's low point in its 52 week range is $13.25 per share, with $15.81 as the 52 week high point — that compares with a last trade of $14.74. By comparison, below is a table showing the prices at which WMC insider buying was recorded over the last six months:
|05/12/2015||Gavin L. James||President, CEO||1,500||$14.83||$22,245.00|
According to the ETF Finder at ETF Channel, WMC makes up 2.37% of the SuperDividend U.S. ETF ( DIV) which is trading relatively unchanged on the day Thursday.