Pender Growth Fund (CVE:PTF) Shares Down 0.6% - Should You Sell?

Key Points

• Pender Growth Fund's share price dropped 0.6%, trading between C$15.00 and C$15.35, with a significant increase in trading volume of 712% compared to its average.
• Insider transactions revealed that Penderfund Capital Management Ltd. acquired a total of 14,600 shares in recent transactions, indicating potential confidence in the company’s stock.
• The fund specializes in special situations and restructuring investments, focusing on sectors like technology and life sciences, aiming to invest in undervalued companies.

Shares of Pender Growth Fund Inc. (CVE:PTF - Get Free Report) were down 0.6% on Thursday . The stock traded as low as C$15.00 and last traded at C$15.35. Approximately 29,200 shares were traded during mid-day trading, an increase of 712% from the average daily volume of 3,596 shares. The stock had previously closed at C$15.45.

Pender Growth Fund Stock Up 2.9%

The business has a fifty day moving average price of C$14.60 and a 200-day moving average price of C$12.07. The stock has a market capitalization of C$112.61 million, a P/E ratio of 5.03 and a beta of 0.20.

Insiders Place Their Bets

In other Pender Growth Fund news, insider Penderfund Capital Management Ltd. bought 31,500 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were purchased at an average cost of C$14.50 per share, for a total transaction of C$456,646.05. Following the purchase, the insider directly owned 641,391 shares in the company, valued at C$9,298,052.91. This represents a 5.16% increase in their ownership of the stock. Also, insider PenderFund Capital Management Ltd. purchased 20,600 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was bought at an average price of C$12.68 per share, with a total value of C$261,208.00. Insiders bought a total of 66,700 shares of company stock worth $917,694 over the last quarter. Company insiders own 9.10% of the company's stock.

Pender Growth Fund Company Profile

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.