RENN Fund, Inc. (NYSEAMERICAN:RCG) Short Interest Up 114.6% in June

RENN Fund, Inc. (NYSEAMERICAN:RCG) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 20,730 shares, an increase of 114.6% from the June 15th total of 9,659 shares. Based on an average trading volume of 6,275 shares, the short-interest ratio is currently 3.3 days.

RENN Fund Stock Performance

RCG opened at $3.02 on Friday. The stock’s 50 day simple moving average is $2.81 and its 200 day simple moving average is $2.85. RENN Fund has a 1 year low of $2.40 and a 1 year high of $3.31.

Institutional Trading of RENN Fund

A hedge fund recently raised its stake in RENN Fund stock. Horizon Kinetics Asset Management LLC increased its position in RENN Fund, Inc. (NYSEAMERICAN:RCG) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 865,948 shares of the company’s stock after buying an additional 48,404 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in RENN Fund were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.

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.