RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Free Report)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.91 and traded as low as $2.83. RENN Fund shares last traded at $2.85, with a volume of 7,822 shares traded.
RENN Fund Price Performance
The stock’s 50-day simple moving average is $2.91 and its 200-day simple moving average is $2.90.
Hedge Funds Weigh In On RENN Fund
A hedge fund recently bought a new stake in RENN Fund stock. Susquehanna International Group LLP purchased a new position in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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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