Pender Growth Fund (CVE:PTF) Hits New 12-Month High - Still a Buy?

Key Points

• Pender Growth Fund Inc. shares hit a new 52-week high of C$15.45 during mid-day trading, marking a significant increase from its previous closing price of C$15.00.
• Insider transactions show PenderFund Capital Management Ltd. acquired 66,700 shares worth approximately C$917,694 over the past 90 days, indicating strong insider confidence in the company.
• The fund specializes in investing in later stage, special situations, and restructuring investments, focusing on sectors like information technology and life sciences.

Pender Growth Fund Inc. (CVE:PTF - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$15.24 and last traded at C$15.45, with a volume of 2000 shares trading hands. The stock had previously closed at C$15.00.

Pender Growth Fund Stock Up 2.9%

The stock has a market capitalization of C$112.61 million, a PE ratio of 5.03 and a beta of 0.20. The stock's 50 day moving average price is C$14.60 and its 200-day moving average price is C$12.07.

Insider Activity

In other news, insider PenderFund Capital Management Ltd. acquired 10,200 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average cost of C$13.19 per share, for a total transaction of C$134,500.26. Also, insider Penderfund Capital Management Ltd. acquired 4,400 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was purchased at an average price of C$14.85 per share, with a total value of C$65,340.00. Following the completion of the acquisition, the insider directly owned 648,191 shares of the company's stock, valued at C$9,625,636.35. This represents a 0.68% increase in their ownership of the stock. Insiders purchased 66,700 shares of company stock valued at $917,694 over the last 90 days. 9.10% of the stock is currently owned by corporate insiders.

About Pender Growth Fund

Pender Growth Fund Inc specializes in later stage, special situations, and restructuring investments. The fund also provides expansion capital and invests in small caps and Eligible Small Businesses ("ESBs"). It seeks to invest in illiquid public and private companies in information technology, communications, life sciences, and proprietary technologies sectors and undervalued technology companies.