Guggenheim Director: Earlier this week, Randall C Barnes, Director at Guggenheim Credit Allocation Fund (NYSE:GGM), purchased 100 shares of common stock and paid $23.58 each. Mr. Barnes already owns 2,730 shares worth $64,564 approximately, but these additional hundred will remain under the control of Children’s Trust.
The purchase continues the buying spree started at the beginning of last month. Mr. Barnes started his purchasing with the acquisition of 1,600 on September 4th at $23.50 each share, worth $37,600. The binge was continued the following day in an operation worth $14,742, for the acquisition of an additional 630 shares at $23.40 each share. However, these last shares would remain under indirect control of Mr. Barnes.
The buying spree would be resumed on the 30th September. Then, the purchase concerned an additional 1,100 shares, at $23.62 each share, for a total transaction worth $25,982. One more purchase was completed on October 2nd, for a total of 1,000 shares at a similar stock price than today’s operating price, $23.58 each share, representing an amount of $23,580.
The stock's price has touched rock bottom on September 9th at $23.31, but it has not found a steady up trend yet. The fall has been clear through the whole month of August, and has seen a few rebounds after Mr. Barnes transactions. The behavior is not surprising, because Mr. Barnes has been the only one trading this stock in the last couple of months.
Through 2013, only Friedrich Lii Roman has accompanied Mr. Barnes’ optimism. Mr. Roman bought 200 shares of common stock at $23.73, for a total amount of $4746, at the beginning of September. Mr. Roman is, like Mr. Barnes, a director at Guggenheim Credit Allocation.
Disclosure: Jodor Jalit holds no position in any of the mentioned stocks.