Michael Dell buys $100 million worth of his company's stock
From Associated Press
July 02, 2008 7:09 PM EDT
DALLAS - In recent days, Chief Executive Michael Dell has bought about $100 million worth of stock in Dell Inc., the shares of which rallied this spring but are still near a five-year low.

Shares in Dell rose 4.5 percent Wednesday, the day after Dell's investment was disclosed, but they settled back to close at $22.70, for a gain of 52 cents or 2.3 percent.

According to a regulatory filing the company made after the close of trading Tuesday, Dell bought more than 4.5 million shares for $99.7 million in three separate deals from June 27 through Tuesday.

The splurge leaves him owning more than 250 million shares directly or indirectly, close to 11 percent of the company's stock for a total value at Wednesday's close of more than $5.6 billion. That amount doesn't include options Dell holds on still more stock.