On Monday, Disney CEO Bob Iger bought $1 million worth of Apple shares, an SEC filing revealed. He's on Apple's board of directors.
That's really interesting, because Iger exercised a million options on Disney stock last week, netting $17.9 million.
“He’s just diversifying his investments and still has a very large portfolio of Disney stock,” Zenia Mucha, a Disney spokesperson, told Bloomberg at the time.
So he seems to have put some of that cash right to work, in a company he happens to be very familiar with.
When an insider, like a board member, buys stock on the open market, it's usually considered a bullish sign. Apple shares have slumped lately amid concerns of increasing competition and tightening profit margins.
Iger also bought a million shares a year ago at prices around $375 a share, shortly after joining Apple's board.