RENN Fund (NYSEAMERICAN:RCG) Stock Price Down 1.7% – What’s Next?

Shares of RENN Fund, Inc. (NYSEAMERICAN:RCG) dropped 1.7% during mid-day trading on Friday . The stock traded as low as $2.85 and last traded at $2.89. Approximately 7,885 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 11,056 shares. The stock had previously closed at $2.94.

RENN Fund Stock Down 1.7%

The company has a fifty day moving average price of $3.03 and a 200-day moving average price of $2.76.

Hedge Funds Weigh In On RENN Fund

A hedge fund recently bought a new stake in RENN Fund stock. Susquehanna International Group LLP acquired a new stake in RENN Fund, Inc. (NYSEAMERICAN:RCG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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.