RENN Fund, Inc. (NYSEAMERICAN:RCG) Short Interest Up 109.8% in August

RENN Fund, Inc. (NYSEAMERICAN:RCG) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 12,561 shares, a growth of 109.8% from the August 15th total of 5,988 shares. Based on an average daily trading volume, of 4,090 shares, the days-to-cover ratio is presently 3.1 days.

RENN Fund Stock Performance

Shares of NYSEAMERICAN RCG traded up $0.02 during trading hours on Monday, hitting $3.04. 9,085 shares of the stock were exchanged, compared to its average volume of 8,154. The company’s fifty day simple moving average is $2.94 and its two-hundred day simple moving average is $2.92. RENN Fund has a 1-year low of $2.40 and a 1-year high of $3.31.

Hedge Funds Weigh In On RENN Fund

An institutional investor 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) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,015 shares of the company’s stock, valued at approximately $33,000.

RENN Fund Company Profile

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.