11:38 AM EDT, 08/26/2024 (MT Newswires) -- Pender Growth Fund ( PNDDF ) over the weekend reported a jump in net income for the three months ended June 30, citing positive investment performance.

Net income was $22.5 million, or $3.09 per Class C share, up from $41,217, or $0.01, in the year-prior quarter.

The company's total shareholders' equity rose to $104 million, or $14.29 per share, from $69.9 million, or $9.48 per share, on Dec. 31, 2023, due to the positive investment performance, offset by share repurchases under the company's normal course issuer bid.

At June 30, 88% of the investment portfolio was made up of public companies and 12% consisted of private companies.

Pender Growth Fund's ( PNDDF ) portfolio is mainly concentrated in the shares of Copperleaf Technologies ( CPLFF ) . On June 11, Copperleaf ( CPLFF ) entered into a deal with Industrial and Financial Systems (IFS), under which IFS will acquire all of Copperleaf's ( CPLFF ) common shares for $12 in cash per share.

As of June 30, Pender Growth Fund ( PNDDF ) held around 6.7 million Copperleaf ( CPLFF ) shares valued at $79.9 million, which was 77% of the fund's total shareholder's equity.

Pender Growth Fund ( PNDDF ) shares were last seen up $0.22 to $10.82 on the TSX Venture Exchange.

Price: 10.82, Change: +0.22, Percent Change: +2.08