The Dow Jones index closed higher by over 100 points on Thursday. 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.

Entravision Communications

• The Trade: Entravision Communications Corporation (NYSE:EVC) CEO Michael J Christenson acquired a total of 100,000 shares an average price of $1.67. To acquire these shares, it cost around $167,250.
• What's Happening: On March 5, Entravision Comms posted upbeat quarterly sales.
• What Entravision Communications Does: Entravision Communications Corp is a global media company. Its operations encompass integrated marketing and media solutions, comprised of television, radio, and digital properties and data analytics services.

AmBase

• The Trade: AmBase Corporation (OTC:ABCP) 10% owner Barc Investments LLC acquired a total of 44,200,460 shares at at an average price of $0.20. To acquire these shares, it cost around $8.84 million.
• What's Happening: The company's stock jumped around 42% over the past month.
• What AmBase Does: Ambase Corp is a United States-based holding company. It holds an equity interest in a real estate development property through a joint venture agreement to purchase and develop the real property located in New York, New York.

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Charles & Colvard

• The Trade: Charles & Colvard, Ltd. (NASDAQ:CTHR) President and CEO Don O'Connell acquired a total of 15,000 shares at an average price of $0.37. The insider spent around $5,550 to buy those shares.
• What's Happening: On Feb. 13, Charles & Colvard posted a quarterly loss of 9 cents per share.
• What Charles & Colvard Does: Charles & Colvard Ltd manufactures, markets, and distributes finished jewellery which also includes moissanite gemstone in the jewellery market.

CommScope Holding

• The Trade: CommScope Holding Company, Inc. (NASDAQ:COMM) Director Claudius E. Watts IV acquired a total of 15,000 shares at an average price of $1.05. The insider spent around $15,770 to buy those shares.
• What's Happening: CommScope recently announced plans to increase U.S. based manufacturing capabilities for fiber connectivity products.
• What CommScope Holding Does: CommScope Holding Co Inc is a provider of infrastructure solutions for communication, data center and entertainment networks.

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