In a recent transaction, an affiliated person with the investment advisor of Clough Global Opportunities Fund (NYSEAMERICAN:GLO) has made a significant purchase of the fund's shares. On May 2, 2024, Charles Clough Jr., reported buying 50,000 shares of Clough Global Opportunities Fund at a price of $4.94 per share, totaling $247,000.
This purchase is a notable addition to Clough Jr.'s holdings in the fund, bringing his total ownership to 350,444.8229 shares. The transaction, filed on May 6, suggests a vote of confidence from an insider in the fund's potential.
Investors often look to insider purchases as a signal of strong future prospects for a company or fund. While the reasons behind an insider's decision to buy shares can vary, such transactions are typically seen as a positive indicator by the market.
The acquisition was made through direct ownership and adds to Clough Jr.'s already substantial stake in the Clough Global Opportunities Fund. The fund, which operates out of Denver, Colorado, is incorporated in the state of Delaware.
This latest insider transaction provides investors with a glimpse into the actions of those closely associated with Clough Global Opportunities Fund, offering a piece of the puzzle when evaluating the fund's attractiveness for potential investment.
InvestingPro Insights
As the Clough Global Opportunities Fund (NYSEAMERICAN:GLO) sees insider confidence with Charles Clough Jr.'s recent share purchase, investors may find additional context in the fund's financial metrics and InvestingPro Tips. GLO's revenue for the last twelve months as of Q4 2023 stood at 9.54 million USD, with a reported revenue growth of 6.67% for the same period. Despite a quarterly revenue decline of 20.78%, the fund has demonstrated a strong gross profit margin of 100%.
Notably, GLO has a significant dividend yield of 11.66% as of mid-April 2024, which aligns with the InvestingPro Tip that the fund pays a substantial dividend to shareholders. This dividend reliability is further underscored by the fact that GLO has maintained dividend payments for 19 consecutive years. However, it's important to note that the fund was not profitable over the last twelve months, with both basic and diluted EPS (Continuing Operations) at -0.36 USD.
Investors considering GLO should also be aware of the fund's low price volatility, as highlighted by an InvestingPro Tip. This stability could be a deciding factor for those seeking less turbulent investments. For those looking for more comprehensive analysis, InvestingPro offers a total of 5 additional InvestingPro Tips for GLO, which can be accessed by visiting https://www.investing.com/pro/GLO. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing valuable insights for informed investment decisions.
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