Mark Sheppard, the investment manager of Manchester & London Investment Trust (MLIT), has bought nearly £1.9m of shares in the closed-ended investment company.Sheppard, from MLIT's parent Manchester & Metropolitan Investment and MLIT's fund manager Midas Investment Management, bought 712,071 shares at a price of 265p each, MLIT said on Thursday.The purchase of the 3.17% stake in MLIT lifted Sheppard's total holding to 58.17%.The deal follows a 13% drop in the stock over the past 12 months.MLIT said in March that its net asset value per share in the first half (to January 31st) fell by 10.2% to 299.9p, an underperformance of 9.6% to its benchmark index.Top Director BuysManchester & London Investment Trust (MNL) Director name: Mr Mark SheppardAmount purchased: 712,071 @ 265.00p Value: £1,886,988African Barrick Gold (ABG) Director name: Ms Rachel EnglishAmount purchased: 17,383 @ 215.00p Value: £37,373Red Rock Resources (RRR) Director name: Mr Michael NottAmount purchased: 13,842,563 @ 0.23p Value: £31,838Maven Income & Growth 4 VCT (MAV4) Director name: Mr Bill NixonAmount purchased: 30,000 @ 85.25p Value: £25,575Fenner (FENR) Director name: Mr Richard John PerryAmount purchased: 5,000 @ 336.29p Value: £16,814Red Rock Resources (RRR) Director name: Mr James LadnerAmount purchased: 6,000,000 @ 0.23p Value: £13,800Red Rock Resources (RRR) Director name: Mr John WatkinsAmount purchased: 6,000,000 @ 0.23p Value: £13,800Red Rock Resources (RRR) Director name: Mr Andrew Ronald McMillan BellAmount purchased: 4,500,000 @ 0.23p Value: £10,350Top Director SellsCatlin Group Ltd. (CGL) Director name: Mr Benjamin MeuliAmount sold: 50,000 @ 522.00p Value: £261,000S&U (SUS) Director name: Mr Guy ThompsonAmount sold: 7,500 @ 1,892.00p Value: £141,900S&U (SUS) Director name: Mr Mike MullinsAmount sold: 4,000 @ 1,892.00p Value: £75,680S&U (SUS) Director name: Mr Christopher RedfordAmount sold: 2,500 @ 1,892.00p Value: £47,300S&U (SUS) Director name: Mr Mike Thompson Amount sold: 2,500 @ 1,892.00p Value: £47,300BC