 Eaton Vance Senior Income Inc NYSE:EVF was trading 0.3 lower from the previous closing price. Saba Capital Management, L.P. filed a Form 4 with the SEC on Tuesday, August 11. The insider bought 9,640 shares at an average price of 5.85. After the transaction, the executives stake in Eaton Vance Senior Income Inc. moved to 7,421,953 shares.The Importance of Insider Transactions Insider transactions shouldnt be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.Insiders buying stock after a notable sell off can indicate an insiders long-term belief in the success of the company; insiders buying stock at new highs can be an indication the exec doesnt feel the stock is overvalued. Conversely, insiders who are selling stock at new lows can potentially indicate some kind of capitulation moment. Insiders selling at new highs can indicate that exec wants to take some profit and lock in a gain.Important Transaction Codes Investors prefer focusing on transactions which take place in the open market, indicated in the Form 4 with codes P for purchase and S for sale. If the transaction was an open-market transaction, that means that the insider made a concious decision for the companys stock moving forward.Transaction codes besides P or S arent relatively important as they are seldom tied to a decision by the executive. For example, transaction code A is indicative of an insider being forced to sell shares to attain compensation. Moreover, transaction code C indicates the conversion of an option.See more from Benzinga Insider Buys Eaton Vance Senior Income StockC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 