Pender Growth Fund (CVE:PTF) Trading 0.8% Higher - Time to Buy?

Key Points

• Pender Growth Fund Inc. (CVE:PTF) experienced a 0.8% increase in share price, reaching C$15.01, with trade volume rising by 50% compared to its average.
• Insiders, including PenderFund Capital Management Ltd., purchased a total of 42,400 shares worth C$522,642 over the past ninety days, indicating confidence in the company's prospects.
• The fund specializes in later stage investments and targets illiquid public and private companies in sectors like technology and life sciences.

Pender Growth Fund Inc. (CVE:PTF - Get Free Report)'s share price was up 0.8% during mid-day trading on Tuesday . The stock traded as high as C$15.01 and last traded at C$15.01. Approximately 4,520 shares changed hands during trading, an increase of 50% from the average daily volume of 3,022 shares. The stock had previously closed at C$14.89.

Pender Growth Fund Price Performance

The stock has a market cap of C$108.76 million, a P/E ratio of 2.42 and a beta of 0.56. The firm's 50-day moving average price is C$13.03 and its 200-day moving average price is C$11.14.

Insider Activity

In other Pender Growth Fund news, insider PenderFund Capital Management Ltd. purchased 10,200 shares of Pender Growth Fund stock in a transaction that occurred on Wednesday, June 25th. The shares were bought at an average price of C$13.19 per share, for a total transaction of C$134,500.26. Insiders have purchased a total of 42,400 shares of company stock worth $522,642 in 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.