RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 6,122 shares, a decline of 71.2% from the July 15th total of 21,285 shares. Based on an average daily trading volume, of 7,698 shares, the days-to-cover ratio is currently 0.8 days.
Institutional Investors Weigh In On RENN Fund
A hedge fund recently bought a new stake in RENN Fund stock. Susquehanna International Group LLP bought a new stake in RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 13,015 shares of the company’s stock, valued at approximately $33,000.
RENN Fund Stock Performance
Shares of RCG opened at $2.83 on Thursday. RENN Fund has a 52 week low of $2.40 and a 52 week high of $3.31. The stock’s 50-day moving average price is $2.90 and its 200-day moving average price is $2.90.
About RENN Fund
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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