Shares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.01 and traded as low as $2.64. RENN Fund shares last traded at $2.65, with a volume of 5,741 shares traded.
RENN Fund Stock Up 1.9%
The company’s fifty day moving average is $3.01 and its two-hundred day moving average is $2.78.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in RENN Fund stock. Susquehanna International Group LLP purchased a new stake in RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 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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