RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.89 and traded as high as $3.01. RENN Fund shares last traded at $2.99, with a volume of 1,270 shares changing hands.
RENN Fund Price Performance
The stock has a 50 day moving average price of $2.89 and a 200-day moving average price of $2.89.
Institutional Investors Weigh In On RENN Fund
A hedge fund recently bought a new stake in RENN Fund stock. Susquehanna International Group LLP purchased a new position in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,015 shares of the company’s stock, valued at approximately $33,000.
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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