RENN Fund (NYSEAMERICAN:RCG) Stock Passes Below 50-Day Moving Average – Time to Sell?

RENN Fund, Inc. (NYSEAMERICAN:RCG)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $3.03 and traded as low as $2.76. RENN Fund shares last traded at $2.78, with a volume of 5,232 shares trading hands.

RENN Fund Stock Down 0.4%

The company’s fifty day moving average price is $3.03 and its two-hundred day moving average price is $2.77.

Institutional Trading of RENN Fund

A hedge fund recently raised its stake in RENN Fund stock. Horizon Kinetics Asset Management LLC grew its position in RENN Fund, Inc. (NYSEAMERICAN:RCG) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 865,948 shares of the company’s stock after acquiring an additional 48,404 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in RENN Fund were worth $2,225,000 at the end of the most recent quarter.

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.