Insiders Pushed Up Stock Purchases Heading Into S&P 500 Selloff
- Ratio of buyers versus sellers reached highest since 2011
- Vote of confidence for stock market that fell into correction
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One set of investors who weren’t shy about diving into the stock market in the runup to the current selloff was corporate insiders.
A total of 1,341 officers and directors of American companies purchased their own stock this month while 2,013 sold, according to data compiled by Washington Service and Bloomberg. The ratio of buyers to sellers is poised to reach the highest level since 2011 after more than doubling since April.