RENN Fund (NYSEAMERICAN:RCG) Trading Down 0.4% – Here’s What Happened
by Danessa Lincoln · The Markets DailyShares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report) dropped 0.4% during mid-day trading on Friday . The company traded as low as $2.78 and last traded at $2.78. Approximately 2,873 shares changed hands during trading, a decline of 71% from the average daily volume of 9,909 shares. The stock had previously closed at $2.79.
RENN Fund Stock Performance
The company has a 50 day moving average price of $2.89 and a 200 day moving average price of $2.79.
Institutional Trading of RENN Fund
An institutional investor recently bought a new position in RENN Fund stock. Susquehanna International Group LLP acquired a new position in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 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.