RENN Fund, Inc. (NYSEAMERICAN:RCG) Short Interest Up 109.8% in August

RENN Fund, Inc. (NYSEAMERICAN:RCG) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 12,561 shares, a growth of 109.8% from the August 15th total of 5,988 shares. Based on an average daily trading volume, of 4,090 shares, the days-to-cover ratio is presently 3.1 days.

RENN Fund Price Performance

Shares of NYSEAMERICAN RCG traded down $0.01 during midday trading on Wednesday, reaching $3.04. 3,776 shares of the company’s stock traded hands, compared to its average volume of 8,129. The stock’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $2.92. RENN Fund has a one year low of $2.40 and a one year high of $3.31.

Institutional Trading of RENN Fund

An institutional investor recently raised its position in RENN Fund stock. Horizon Kinetics Asset Management LLC increased its stake in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

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.