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Insiders Are Buying MINT Income Fund
Posted by: Markus Aarnio (IP Logged)
Date: August 21, 2013 09:28AM
The PowerShares CEF Income Composite Portfolio ETF (PCEF) is currently down 0.75% year to date.
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In this article, I will feature one closed-end fund that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
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Insider Buying by Insider (Last 30 Days)
Here is a table of MINT Income Fund's insider-trading activity by calendar month.
There have been 57,718 shares purchased and there have been zero shares sold by the insiders since March 2013.
Top 10 Holdings
MINT Income Fund's top 10 holdings as of June 30 were:
1. Magna International (MGA)
2. Peyto Exploration & Development (PEYUF.PK)
3. Perpetual Energy (PMGYF.PK) 8.75% due March 15, 2018
4. Trilogy Energy (TETZF.PK)
5. ARC Resources (AETUF.PK)
6. Canexus (CXUSF.PK)
7. Labrador Iron Ore Royalty Corporation (LIFZF.PK)
8. ADT Corporation (ADT)
9. JPMorgan Chase & Co. (JPM)
10. E.I. du Pont de Nemours and Company (DuPont) (DD)
Peyto Exploration & Development, JPMorgan and DuPont have seen insider selling during the past 30 days. Perpetual Energy, Canexus and ADT Corporation have seen insider buying during the past 30 days. ARC Resources has seen both insider buying and selling during the past 30 days.
There have been three different insiders buying MINT Income Fund and there have not been any insiders selling MINT Income Fund during the past 30 days. All three of these insiders increased their holdings by more than 10%. MINT Income Fund has a dividend yield of 7.2%. As of Aug. 15 MINT Income Fund had a net asset value of $9.83 per share. The stock is currently trading at $10, which could be a good entry point for the stock.
Disclosure: I have no positions in any stocks mentioned
Stocks Discussed: MID.UN.TO, ADT, AETUF.PK, CXUSF.PK, DD, JPM, LIFZF.PK, MG,