Intel CEO Pat Gelsinger scoops up $250,000 in stock

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Intel Corp. Chief Executive Pat Gelsinger scooped up nearly $250,000 of his company’s stock Wednesday, according to new disclosures.

Gelsinger purchased 3,400 shares of Intel
INTC,
+1.10%
at an average price of $36.79 Wednesday while buying another 3,375 at an average price of $36.82, a filing from late Thursday shows.

The open-market purchases were made through a Gelsinger family trust that now owns 25,475 shares of Intel. He owns 37,722 shares directly and vastly more through other trusts listed on the latest Form 4 filing with the Securities and Exchange Commission; FactSet lists his ownership at upward of 500,000 shares.

While Intel shares have gained in each of the past five sessions, including when they soared 9.3% higher last Friday in the wake of the company’s earnings report, they’re still off 45% from their recent 2021 peak of $68.26.

See also: Intel’s stock powers toward best day in a year. Here’s why skeptics still have concerns.

Intel didn’t immediately respond to MarketWatch’s request for comment on Gelsinger’s stock purchase.

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