RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) Short Interest Down 63.0% in June

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 6,490 shares, a decline of 63.0% from the June 15th total of 17,551 shares. Based on an average trading volume of 13,203 shares, the days-to-cover ratio is presently 0.5 days.

RiverNorth Capital and Income Fund Stock Down 0.3%

RSF traded down $0.04 on Wednesday, reaching $14.55. The company had a trading volume of 11,646 shares, compared to its average volume of 12,506. RiverNorth Capital and Income Fund has a fifty-two week low of $14.23 and a fifty-two week high of $15.07. The company’s fifty day moving average is $14.61 and its 200 day moving average is $14.54.

RiverNorth Capital and Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.1371 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%. RiverNorth Capital and Income Fund’s dividend payout ratio (DPR) is 108.67%.

Analysts Set New Price Targets

Separately, Zacks Research raised RiverNorth Capital and Income Fund to a “hold” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Palatine Hill Wealth Management LLC acquired a new stake in shares of RiverNorth Capital and Income Fund during the fourth quarter worth $9,666,000. Nomura Holdings Inc. acquired a new stake in RiverNorth Capital and Income Fund in the 3rd quarter worth about $3,680,000. Osaic Holdings Inc. raised its stake in RiverNorth Capital and Income Fund by 15.9% in the 4th quarter. Osaic Holdings Inc. now owns 179,232 shares of the company’s stock worth $2,574,000 after purchasing an additional 24,600 shares in the last quarter. TrueMark Investments LLC bought a new stake in RiverNorth Capital and Income Fund in the 4th quarter valued at about $689,000. Finally, Everstar Asset Management LLC bought a new position in shares of RiverNorth Capital and Income Fund during the first quarter worth approximately $466,000.

About RiverNorth Capital and Income Fund

RiverNorth Capital and Income Fund (NYSE: RSF) is a closed-end investment company managed by RiverNorth Capital Management, LLC. The fund seeks to provide shareholders with a combination of current income and capital appreciation by employing a flexible, unconstrained fixed-income strategy. RSF invests across a broad spectrum of debt and convertible securities, aiming to capitalize on relative value opportunities in both interest-rate and credit markets.

The fund’s portfolio typically includes high-yield corporate bonds, bank loans, convertible securities, preferred stocks and other debt instruments.