The Dow Jones closed lower by over 350 points on Friday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.
ProtoKinetix
- The Trade: ProtoKinetix, Incorporated (OTC:PKTX) CFO Michael R. Guzzetta acquired a total of 20,000 shares an average price of $0.02. To acquire these shares, it cost around $330.
- What's Happening: The company's stock lost around 53% over the past month.
- What ProtoKinetix Does: ProtoKinetix Inc is a research and development stage biotechnology company focused on scientific medical research of AFGPs (Anti-Freeze Glycoproteins).
Firsthand Technology Value Fund
- The Trade: Firsthand Technology Value Fund, Inc. (OTC:SVVC) 10% owner Jeffrey Eberwein acquired a total of 49,805 shares at an average price of $0.24. To acquire these shares, it cost around $12,150.
- What's Happening: Firsthand Technology Value Fund announced plan to seek stockholder approval to withdraw BDC election and pursue liquidation.
- What Firsthand Technology Value Fund Does: Firsthand Technology Value Fund Inc is an externally managed, non-diversified, closed-end management investment company.
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RENN Fund
- The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 413 shares at an average price of $1.73. The insider spent around $714 to buy those shares.
- What's Happening: RENN Fund shares lost around 4% year-to-date.
- What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed with the objective of providing long-term capital appreciation by investing substantially in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges.
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