RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report) rose 3.7% during trading on Friday . The company traded as high as $2.85 and last traded at $2.79. 5,787 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 9,368 shares. The stock had previously closed at $2.69.
RENN Fund Stock Up 3.7%
The business’s 50-day moving average is $2.77 and its two-hundred day moving average is $2.81.
Institutional Trading of RENN Fund
A hedge fund recently bought a new position in RENN Fund stock. Susquehanna International Group LLP bought a new position in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 13,015 shares of the company’s stock, valued at approximately $33,000.
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.
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