The Dow Jones index closed lower by more than 350 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.

Super League Enterprise

• The Trade: Super League Enterprise, Inc. (NASDAQ:SLE) Director Jeff Patrick Gehl bought a total of 50,000 shares at an average price of $1.11. To acquire these shares, it cost around $55,515.
• What's Happening: On June 21, Super League issued a mid-year update from the Company's Chief Executive Office, Ann Hand.
• What Super League Enterprise Does: Super League Enterprise Inc is the rocket ship to the metaverse.

Wag! Group

• The Trade: Wag! Group Co. (NASDAQ:PET) 10% owner John P Szabo Jr acquired a total of 1,080,000 shares at an average price of $1.39. To acquire these shares, it cost around $1.47 million.
• What's Happening: On July 17, Wag! Group announced the pricing of an underwritten public offering of 7,407,407 shares of its common stock at $1.35 per share.
• What Wag! Group Does: Wag Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent Pet Caregivers to connect with pet parents.

Retractable Technologies

• The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 12,710 shares at an average price of $1.13. The insider spent around $14,352 to buy those shares.
• What's Happening: On May 15, Retractable Technologies posted a decline in quarterly sales results.
• What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

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