RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.91 and traded as low as $2.83. RENN Fund shares last traded at $2.85, with a volume of 7,822 shares trading hands.
RENN Fund Price Performance
The company has a 50-day moving average of $2.91 and a 200-day moving average of $2.90.
Institutional Inflows and Outflows
A hedge fund recently raised its position in RENN Fund stock. Horizon Kinetics Asset Management LLC raised its position in RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 865,948 shares of the company’s stock after purchasing an additional 48,404 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in RENN Fund were worth $2,225,000 at the end of the most recent reporting period.
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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