Thursday, July 9, 2009

Insider Buying at Phoenix (PNX)

AlphaNinja - One of today's largest % movers is the Phoenix Co. (PNX).

CEO James Wehr has added to his personal holdings, buying shares the last few days...

The stock is up 22%, as the market cheers this vote of confidence. For a look at why the stock is 88% below its 52-week high, here's the company's recent dissection of its investment portfolio. Residential and commercial mortgage-backed securities seem "better than the market," but that's little to cheer about. Still, the CEO is putting his money where his mouth is, which is a good sign.
Phoenix' Portfolio

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