Short Interest in RENN Fund, Inc. (NYSEAMERICAN:RCG) Grows By 109.8%

RENN Fund, Inc. (NYSEAMERICAN:RCG) was the target of a significant growth in short interest in the month of 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 volume of 4,090 shares, the short-interest ratio is currently 3.1 days.

Hedge Funds Weigh In On RENN Fund

A hedge fund recently bought a new stake in RENN Fund stock. Susquehanna International Group LLP bought a new stake in RENN Fund, Inc. (NYSEAMERICAN:RCG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,633 shares of the company’s stock, valued at approximately $47,000.

RENN Fund Stock Up 0.3%

RCG traded up $0.01 during midday trading on Tuesday, hitting $3.05. 3,776 shares of the company were exchanged, compared to its average volume of 8,129. RENN Fund has a 1-year low of $2.40 and a 1-year high of $3.31. The firm’s 50 day moving average price is $2.94 and its 200-day moving average price is $2.92.

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.