RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 20,730 shares, a growth of 114.6% from the June 15th total of 9,659 shares. Based on an average trading volume of 6,275 shares, the days-to-cover ratio is currently 3.3 days.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in RENN Fund stock. Susquehanna International Group LLP purchased a new stake in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 13,015 shares of the company’s stock, valued at approximately $33,000.
RENN Fund Price Performance
Shares of NYSEAMERICAN:RCG traded down $0.04 during midday trading on Wednesday, reaching $2.98. The company’s stock had a trading volume of 2,393 shares, compared to its average volume of 8,889. The business has a 50 day moving average price of $2.80 and a 200 day moving average price of $2.84. RENN Fund has a 1 year low of $2.40 and a 1 year high of $3.31.
RENN Fund Company Profile
RENN Fund, Inc (NYSE American: RCG) is a closed-end management investment company that seeks to provide current income to its shareholders, with capital preservation as a secondary objective. The Fund pursues this objective by investing primarily in a diversified portfolio of corporate debt securities, including both investment-grade and below-investment-grade (high-yield) bonds, floating-rate bank loans and convertible securities.
To enhance income and manage portfolio risk, the Fund may employ leverage through borrowings or the issuance of preferred shares.
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