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

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 19,757 shares, a growth of 132.3% from the July 30th total of 8,505 shares. Based on an average daily volume of 10,462 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Trading of RiverNorth Capital and Income Fund

Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of RiverNorth Capital and Income Fund during the third quarter valued at approximately $35,000. CoreCap Advisors LLC purchased a new stake in RiverNorth Capital and Income Fund in the second quarter worth approximately $95,000. Equitable Holdings Inc. purchased a new stake in RiverNorth Capital and Income Fund in the fourth quarter worth approximately $167,000. Jane Street Group LLC bought a new stake in RiverNorth Capital and Income Fund in the 4th quarter worth approximately $214,000. Finally, Everstar Asset Management LLC bought a new stake in RiverNorth Capital and Income Fund in the 1st quarter worth approximately $466,000.

RiverNorth Capital and Income Fund Stock Up 0.1%

NYSE:RSF traded up $0.02 during trading hours on Friday, reaching $14.51. 8,641 shares of the company traded hands, compared to its average volume of 11,727. The business’s 50-day moving average price is $14.57 and its two-hundred day moving average price is $14.56. RiverNorth Capital and Income Fund has a 1 year low of $14.23 and a 1 year high of $15.07.

RiverNorth Capital and Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were given a $0.1371 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 11.3%. RiverNorth Capital and Income Fund’s payout ratio is 109.33%.

Analysts Set New Price Targets

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

About RiverNorth Capital and Income Fund

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.