Are board members not stressed by the war?
A surge in insider trades in the US market: $SPX
Despite the security tensions and the war with Iran, it seems that those closest to the plate in American companies have not turned into 'bears' but rather the opposite.
They are taking advantage of the market turmoil to increase their holdings.
New data shows that 26.4% of US-listed companies recorded net insider trades during March.
Note - this is the highest figure recorded in the last 5 months.
This jump in insider trades from the 20.9% level measured just two months ago marks a second consecutive monthly increase.
When delving into insider trades across different sectors - a slightly different picture emerges in the energy sector.
The percentage of energy sector companies with insider trades decreased by 1.6 points to 17.5%.
This dramatic difference between the sectors may perhaps indicate that those industry insiders do not believe that oil prices will remain high for long?