RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) Sees Large Increase in Short Interest

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 15,752 shares, an increase of 83.4% from the December 31st total of 8,591 shares. Based on an average trading volume of 13,064 shares, the short-interest ratio is currently 1.2 days. Based on an average trading volume of 13,064 shares, the short-interest ratio is currently 1.2 days.

Hedge Funds Weigh In On RiverNorth Capital and Income Fund

Several hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in RiverNorth Capital and Income Fund during the 3rd quarter valued at about $35,000. WFA Asset Management Corp grew its position in shares of RiverNorth Capital and Income Fund by 54.5% in the 3rd quarter. WFA Asset Management Corp now owns 3,090 shares of the company’s stock worth $48,000 after buying an additional 1,090 shares during the last quarter. Absolute Investment Advisers LLC purchased a new stake in shares of RiverNorth Capital and Income Fund during the 3rd quarter valued at $193,000. TrueMark Investments LLC acquired a new stake in RiverNorth Capital and Income Fund in the fourth quarter worth about $689,000. Finally, Nomura Holdings Inc. acquired a new stake in RiverNorth Capital and Income Fund in the 3rd quarter worth approximately $3,680,000.

RiverNorth Capital and Income Fund Price Performance

RSF traded down $0.02 during midday trading on Friday, hitting $14.50. 10,594 shares of the company traded hands, compared to its average volume of 10,400. The company’s 50-day moving average is $14.49 and its 200 day moving average is $14.62. RiverNorth Capital and Income Fund has a 52 week low of $14.23 and a 52 week high of $16.02.

RiverNorth Capital and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.1371 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date is Monday, March 16th. RiverNorth Capital and Income Fund’s dividend payout ratio is presently 117.33%.

RiverNorth Capital and Income Fund Company Profile

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.