As CEOs buy a record amount of stock with shareholder money, they are keeping their wallets in their pockets when it comes to purchasing shares with their own cash.
In the last six weeks, U.S. companies made buyback announcements that came to $5.7 billion a day, according to TrimTabs Investment Research.
Yet in the month of April executives at those same companies bought only $240 million worth of stock with their own money, the lowest level of insider buying in more than two years. "Insider buying virtually dried up in April, sending the insider sell/buy ratio to its highest level in more than two years," noted the TrimTabs report.
It's a troubling contrast that may speak to the true feelings executives have about the staying power of this six-year bull market.