Recent Insider Buying Signals Stronger Confidence in BDCs
The latest analysis of the VanEck BDC Income ETF (BIZD) reveals that a notable 29.5% of its weighted holdings have seen insider buying over the last six months. This trend indicates a positive signal from company insiders regarding the future prospects of their organizations.
Among these holdings, Barings BDC Inc (Symbol: BBDC) stands out. It comprises 1.19% of the ETF, with recent Form 4 filings showing that three directors and officers have acquired shares in this timeframe. Currently, the ETF holds $15,301,634 worth of BBDC, positioning it as the 18th largest holding. Below are the insights into the insider buying activity at BBDC:
BBDC — Last Trade: $8.47 — Recent Insider Buys:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 11/15/2024 | Stephen R. Byers | Director | 14,915 | $9.92 | $147,972 |
| 12/11/2024 | Matthew Freund | President | 2,500 | $9.72 | $24,291 |
| 12/11/2024 | Elizabeth A. Murray | CFO and COO and PAO | 2,000 | $9.70 | $19,400 |
| 12/13/2024 | Stephen R. Byers | Director | 9,548 | $9.75 | $93,073 |
Additionally, Cion Investment Corporation (Symbol: CION) has shown similar signals of confidence from insiders. As the 25th largest holding in the VanEck BDC Income ETF (BIZD), CION has had seven directors and officers recently file Form 4s indicating purchases. Currently, the ETF holds $9,903,389 worth of CION, equivalently about 0.77% of the ETF’s total assets. The following table outlines the recent insider buying activity at CION:
CION — Last Trade: $9.34 — Recent Insider Buys:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 11/12/2024 | Charlie Arestia | see Remarks | 750 | $11.39 | $8,542 |
| 11/12/2024 | Gregg A. Bresner | President & CIO | 2,000 | $11.41 | $22,820 |
| 11/15/2024 | Robert A. Breakstone | Director | 1,000 | $11.34 | $11,340 |
| 11/21/2024 | Stephen Roman | CCO & Secretary | 435 | $11.53 | $5,016 |
| 11/21/2024 | Michael A. Reisner | Co-Chairman & Co-CEO | 437 | $11.44 | $4,999 |
Insider Trading Overview: Recent Stock Transactions
| Date | Name | Position | Shares | Price per Share | Total Value |
| 03/18/2025 | Eric A. Pinero | Chief Legal Officer | 465 | $10.72 | $4,985 |
| 03/17/2025 | Stephen Roman | CCO & Secretary | 455 | $10.93 | $4,973 |
| 03/17/2025 | Robert A. Breakstone | Director | 500 | $11.05 | $5,525 |
| 03/18/2025 | Peter I. Finlay | Director | 250 | $10.76 | $2,690 |
| 03/19/2025 | Gregg A. Bresner | President & CIO | 3,000 | $10.81 | $32,420 |
| 03/24/2025 | Robert A. Breakstone | Director | 500 | $10.75 | $5,375 |
| 03/28/2025 | Michael A. Reisner | Co-Chairman & Co-CEO | 490 | $10.45 | $5,120 |
| 04/01/2025 | Gregg A. Bresner | President & CIO | 2,000 | $10.45 | $20,890 |
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
