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.

United Insurance

The Trade: United Insurance Holdings Corp. (NASDAQ:UIHC) Director Alec L. Poitevint II acquired a total of 21550 shares at an average price of $3.45. To acquire these shares, it cost $74,368.00.

What’s Happening: The company’s shares jumped over 12% over the previous five days.

What United Insurance Does: United Insurance Holdings Corp is a holding company primarily engaged in the residential and commercial property and casualty insurance business in the United States

Oxford Square Capital

The Trade: Oxford Square Capital Corp. (NASDAQ:OXSQ) CEO Jonathan H Cohen acquired a total of 13200 shares shares at an average price of $4.09. The insider spent $53,951.97 to buy those shares.

What’s Happening: The company’s shares have jumped over 27% since the start of the year.

What Oxford Square Capital Does: Oxford Square Capital Corp is a closed-end, non-diversified management investment company.

Volt Information Sciences

The Trade: Volt Information Sciences, Inc. (NYSE:VOLT) SVP/Chief Legal Officer Nancy T Avedissian acquired a total of 2500 shares at an average price of $3.43. To acquire these shares, it cost $8,575.00.

What’s Happening: Volt Information recently upbeat quarterly earnings.

What Volt Information Sciences Does: Volt Information Sciences offers recruitment services. The company provides staffing services, outsourcing solutions, and information technology infrastructure services.