RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 traded.
RENN Fund Price Performance
The business’s 50-day moving average is $2.91 and its two-hundred day moving average is $2.90.
Institutional Investors Weigh In On RENN Fund
A hedge fund recently raised its position in RENN Fund stock. Horizon Kinetics Asset Management LLC lifted its position in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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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