On September 10, 2024, James Bowen, Director of FIRST TRUST HIGH YIELD OPPORTUNITIES 2027 TERM FUND (FTHY, Financial), purchased 17,000 shares of the company. This transaction was documented in an SEC Filing. Following this acquisition, the insider now owns a total of 123,000 shares of the company.
FIRST TRUST HIGH YIELD OPPORTUNITIES 2027 TERM FUND (FTHY, Financial) is a closed-end fund designed to provide a high level of current income. The fund invests primarily in high yield debt securities, including corporate bonds, with a planned termination date in 2027.
Over the past year, the insider has purchased a total of 103,000 shares and has not sold any shares. The recent purchase is part of a broader trend of insider buying at the company, with a total of 7 insider buys recorded over the past year and no insider sales.
On the day of the insider's latest purchase, shares of FIRST TRUST HIGH YIELD OPPORTUNITIES 2027 TERM FUND (FTHY, Financial) were trading at $14.75. The company has a market cap of approximately $539.093 million. The price-earnings ratio of the stock is 9.97, which is below the industry median of 11.96.
Insider buying can be an indicator of corporate insiders' confidence in the company's prospects or undervaluation. Investors often look for such transactions as they represent significant purchases of company stock by people who are likely to have a deep understanding of the company’s financial health and business prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
