The Dow Jones closed higher on Wednesday following the release of Fed minutes. Investors, meanwhile, focused on some notable insider trades.

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.

AIM ImmunoTech

• The Trade: AIM ImmunoTech Inc. (NYSE:AIM) CEO and President Thomas K Equels bought a total of 161,291 shares at an average price of $0.31. To acquire these shares, it cost around $50 thousand.
• What's Happening: AIM ImmunoTech, last month, reported safety, tolerability and biological activity data for intranasal ampligen in healthy subjects.
• What AIM ImmunoTech Does: AIM ImmunoTech Inc is an immuno-pharma company focused on research and development of therapeutics to treat immune disorders, viral and cancer diseases.

Guerrilla RF

• The Trade: Guerrilla RF, Inc. (OTC:GUER) CFO Alen John Berg acquired a total of 20,000 shares at an average price of $1.30. The insider spent around $26 thousand to buy those shares.
• What's Happening: The company's shares fell 6% over the past month.
• What Guerrilla RF Does: Guerrilla RF Inc is a semiconductor company focused on high performance MMICs (monolithic microwave integrated circuits) for the wireless and infrastructure market.

Check This Out: Investor Fear Eases Following Release Of Fed Minutes

InnSuites Hospitality Trust

• The Trade: InnSuites Hospitality Trust (NYSE:IHT) President and CEO James F Wirth acquired a total of 43,478 shares at an average price of $1.61. To acquire these shares, it cost around $70 thousand.
• What's Happening: The company's stock has declined around 40% over the past six months.
• What InnSuites Hospitality Trust Does: InnSuites Hospitality Trust is a real estate investment trust. It is engaged in the ownership and operation of hotel properties.

Don't forget to check out our premarket coverage here

ProtoKinetix

• The Trade: ProtoKinetix, Incorporated (OTC:PKTX) President and CEO Clarence E. Smith acquired a total of 2,187,489 shares at an average price of $0.02. The insider spent $46.87 thousand to buy those shares.
• What's Happening: ProtoKinetix shares have tumbled 62% over the previous year.
• What ProtoKinetix Does: ProtoKinetix Inc is a research and development stage biotechnology company focused on scientific medical research of AFGPs (Anti-Freeze Glycoproteins).