The Dow Jones index closed lower by over 50 points on Tuesday. 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.

Bespoke Extracts

• The Trade: Bespoke Extracts, Inc. (OTC:BSPK) CEO Michael Feinsod bought a total of 3,000 shares at an average price of $0.07. To acquire these shares, it cost around $210.
• What's Happening: The company's stock jumped around 51% over the past six months.
• What Bespoke Extracts Does: Bespoke Extracts Inc is focused on selling its proprietary line of specially-formulated, premium quality, hemp-derived CBD products.

Galectin Therapeutics

• The Trade: Galectin Therapeutics Inc. (NASDAQ:GALT) Director Kary Eldred acquired a total of 400 shares at an average price of $2.39. To acquire these shares, it cost around $956.00.
• What's Happening: On May 15, Galectin Therapeutics posted a wider-than-expected quarterly loss.
• What Galectin Therapeutics Does: Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company.

RENN Fund

• The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 1,499 shares at an average price of $1.81. The insider spent around $2,713 to buy those shares.
• What's Happening: RENN Fund shares rose around 7% over the past month.
• What RENN Fund Does: RENN Fund Inc is active in the financial services domain.

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