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Insider Buying Evaporates While S&P 500, Dow Average Cap Records

  • Simultaneous records for 3 major indexes a first since 1999
  • Two executives bought their stock for every nine that sold
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Photographer: Michael Nagle/Bloomberg
Updated on

Investors who scored big gains by swooping in at the bottom of the last two U.S. equity selloffs now are backing away from the market.

The number of officers and directors of companies purchasing their own stock tumbled 44 percent from a year ago to 316 in July, the lowest monthly total ever, according to data compiled by The Washington Service and Bloomberg that goes back to 1988. With 1,399 executives unloading stock, sellers outnumbered buyers at a rate that was exceeded only two other times.