RENN Fund (NYSEAMERICAN:RCG) Stock Price Up 3.7% – Here’s Why

RENN Fund, Inc. (NYSEAMERICAN:RCG) traded up 3.7% during mid-day trading on Friday . The company traded as high as $2.85 and last traded at $2.79. 5,787 shares were traded during trading, a decline of 38% from the average session volume of 9,368 shares. The stock had previously closed at $2.69.

RENN Fund Price Performance

The company has a 50-day moving average of $2.77 and a 200-day moving average of $2.81.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in RENN Fund stock. Susquehanna International Group LLP purchased a new position in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.