RENN Fund (NYSE:RCG) Trading Up 2% – Here’s Why

RENN Fund, Inc. (NYSE:RCG) traded up 2% during trading on Thursday . The company traded as high as $2.60 and last traded at $2.59. 7,356 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 6,131 shares. The stock had previously closed at $2.54.

RENN Fund Trading Down 0.4%

The business’s 50-day simple moving average is $2.60 and its 200-day simple moving average is $2.61.

Institutional Investors Weigh In On RENN Fund

An institutional investor recently bought a new position in RENN Fund stock. Susquehanna International Group LLP purchased a new position in shares of RENN Fund, Inc. (NYSE:RCG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,015 shares of the company’s stock, valued at approximately $33,000. 8.26% of the stock is owned by institutional investors.

About RENN Fund

RENN Fund, Inc is a closed ended equity mutual fund launched by RENN Capital Group, Inc The fund is co-managed by Horizon Kinetics Asset Management LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It seeks to invest in stocks of small-cap and mid-cap companies. The fund employs a fundamental analysis with a bottom-up stock picking approach to create its portfolio. It was formerly known as RENN Global Entrepreneurs Fund, Inc RENN Fund, Inc was formed on January 20, 1994 and is domiciled in the United States.