Strong insider buying at XME and components Freeport McMoRan, Alcoa

|By:, SA News Editor

Forbes finds the underlying holdings of the SPDR S&P Metals and Mining ETF (XME) show an impressive 20.1% of holdings on a weighted basis have enjoyed insider buying within the past six months.

Officers and directors of Freeport McMoRan (FCX), including the chairman and vice chairman, purchased more than 3.6M shares since June; FCX comprises ~3% of XME.

Alcoa (AA), which also makes up ~3% of XME, shows two directors and officers purchasing shares.