RiverNorth Capital and Income Fund (NYSE:RSF) Trading Down 0.2% – Here’s What Happened

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) shares were down 0.2% on Thursday . The stock traded as low as $14.48 and last traded at $14.49. 10,957 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 11,983 shares. The stock had previously closed at $14.52.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded RiverNorth Capital and Income Fund to a “hold” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

RiverNorth Capital and Income Fund Trading Down 0.1%

The firm’s 50-day simple moving average is $14.57 and its 200 day simple moving average is $14.55.

RiverNorth Capital and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.1371 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) annualized dividend and a yield of 11.4%. RiverNorth Capital and Income Fund’s dividend payout ratio is presently 109.33%.

Hedge Funds Weigh In On RiverNorth Capital and Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Palatine Hill Wealth Management LLC acquired a new stake in RiverNorth Capital and Income Fund during the 4th quarter worth approximately $9,666,000. Nomura Holdings Inc. bought a new position in RiverNorth Capital and Income Fund in the third quarter valued at approximately $3,680,000. Everstar Asset Management LLC bought a new position in shares of RiverNorth Capital and Income Fund in the first quarter valued at $466,000. Equitable Holdings Inc. bought a new position in shares of RiverNorth Capital and Income Fund in the 2nd quarter valued at about $379,000. Finally, Osaic Holdings Inc. increased its position in RiverNorth Capital and Income Fund by 15.9% during the fourth quarter. Osaic Holdings Inc. now owns 179,232 shares of the company’s stock worth $2,574,000 after buying an additional 24,600 shares during the last quarter.

About RiverNorth Capital and Income Fund

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.