The Dow Jones index closed lower by around 0.1% on Wednesday. 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.

IZEA Worldwide

• The Trade: IZEA Worldwide, Inc. (NASDAQ:IZEA) 10% owner GP Cash Management Ltd acquired a total of 7,136 shares an average price of $2.50. To acquire these shares, it cost around $17,840.
• What's Happening: On April 1, IZEA Worldwide posted downbeat quarterly earnings.
• What IZEA Worldwide Does: IZEA Worldwide Inc is a create economy, specializing in providing software solutions and professional services that connect brands with a broad spectrum of social influencers and content creators.

PetVivo Holdings

• The Trade: PetVivo Holdings, Inc. (OTC:PETV) President and CEO John Lai acquired a total of 150,000 shares at at an average price of $0.60. To acquire these shares, it cost around $90,000.
• What's Happening: On March 11, PetVivo Holdings named Garry Lowenthal as the Chief Financial Officer.
• What PetVivo Holdings Does: PetVivo Holdings Inc is an emerging biomedical device company. The group is focused on the manufacturing, commercialization, and licensing of medical devices and therapeutics for companion animals.

Brightcove

• The Trade: Brightcove Inc. (NASDAQ:BCOV) 10% owner Jonathan Brolin acquired a total of 56,831 shares at an average price of $1.69. The insider spent around $95,857 to buy those shares.
• What's Happening: On April 10, Brightcove named John Wagner as Chief Financial Officer.
• What Brightcove Does: Brightcove Inc is a provider of cloud-based streaming technology and services.

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