RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) Sees Significant Growth in Short Interest

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 11,861 shares, an increase of 82.8% from the June 30th total of 6,490 shares. Based on an average trading volume of 9,346 shares, the days-to-cover ratio is presently 1.3 days.

RiverNorth Capital and Income Fund Trading Up 0.1%

RiverNorth Capital and Income Fund stock traded up $0.01 during mid-day trading on Friday, hitting $14.56. The company’s stock had a trading volume of 3,707 shares, compared to its average volume of 12,226. RiverNorth Capital and Income Fund has a twelve month low of $14.23 and a twelve month high of $15.07. The stock’s fifty day moving average price is $14.59 and its two-hundred day moving average price is $14.56.

RiverNorth Capital and Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.1371 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 11.3%. RiverNorth Capital and Income Fund’s dividend payout ratio (DPR) is currently 118.00%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On RiverNorth Capital and Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of RiverNorth Capital and Income Fund during the third quarter valued at $35,000. CoreCap Advisors LLC purchased a new position in RiverNorth Capital and Income Fund in the 2nd quarter worth about $95,000. Equitable Holdings Inc. acquired a new stake in RiverNorth Capital and Income Fund during the 4th quarter worth about $167,000. Jane Street Group LLC acquired a new stake in RiverNorth Capital and Income Fund during the 4th quarter worth about $214,000. Finally, Everstar Asset Management LLC acquired a new stake in RiverNorth Capital and Income Fund during the 1st quarter worth about $466,000.

RiverNorth Capital and Income Fund Company Profile

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.