The Dow Jones index closed higher by more than 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.

Global Crossing Airlines Group

• The Trade: Global Crossing Airlines Group Inc. (OTC:JETMF) 10% owner Red Oak Partners, LLC acquired a total of 722,581 shares an average price of $0.38. To acquire these shares, it cost around $274,581.
• What's Happening: On April 3, Global Crossing Airlines Group said it has been approved by the US Department of Transportation for an increase to 20 aircraft from its current authorization of 16 aircraft.
• What Global Crossing Airlines Group Does: Global Crossing Airlines Group Inc is an airline operator for both narrow and widebody aircraft around the world, utilizing the efficiencies of an Airbus A320/321 fleet.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 3,587 shares at at an average price of $1.06. To acquire these shares, it cost around $3,802.
• What's Happening: On March 29, Retractable Technologies reported results for 2023.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

RENN Fund

• The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 57 shares at an average price of $1.65. The insider spent around $94 to buy those shares.
• What's Happening: RENN Fund shares fell around 10% over the past six months.
• What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed to provide return through capital appreciation and income by a long-term, value-oriented investment process that invests in a wide variety of financial instruments, including but not limited to, common stocks, fixed-income securities including convertible and non-convertible debt securities or loans, distressed debt, warrants, and preferred stock, exchange-traded funds and exchange-traded notes, and other instruments.

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