The Dow Jones index closed higher by more than 450 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.

System1

• The Trade: System1, Inc. (NYSE:SST) 10% owner Cee Holdings Trust bought a total of 46,373 shares at an average price of $1.22. To acquire these shares, it cost around $56,378.
• What's Happening: On Aug. 8, System1 posted upbeat quarterly earnings.
• What System1 Does: System1 Inc develops technology and data science to operate a responsive acquisition marketing platform.

TherapeuticsMD

• The Trade: TherapeuticsMD, Inc. (NASDAQ:TXMD) Director Cooper C. Collins acquired a total of 1,200 shares at an average price of $1.70. To acquire these shares, it cost around $2,039.
• What's Happening: On Aug. 12, TherapeuticsMD posted a second-quarter loss of 9 cents per share.
• What TherapeuticsMD Does: TherapeuticsMD Inc is a pharmaceutical royalty company, currently receiving royalties on products licensed to pharmaceutical organizations that possess commercial capabilities in the relevant territories.

Ault Alliance

• The Trade: Ault Alliance, Inc. (NYSE:AULT) Executive Chairman Milton C Ault III acquired a total of 2,800 shares at an average price of $0.23. The insider spent around $655 to buy those shares.
• What's Happening: On Aug. 20, Ault Alliance declared a monthly cash dividend of $0.2708333 Per Share of 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock.
• What Ault Alliance Does: Ault Alliance Inc is a diversified holding company. It operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles.

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