RiverNorth Capital and Income Fund, Inc. (RSF) to Issue Monthly Dividend of $0.14 on March 31st

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) declared a monthly dividend on Friday, January 2nd. Investors of record on Monday, March 16th will be given a dividend of 0.1371 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Monday, March 16th.

RiverNorth Capital and Income Fund has a payout ratio of 84.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

RiverNorth Capital and Income Fund Price Performance

NYSE:RSF opened at $14.68 on Friday. The stock has a 50-day simple moving average of $14.45 and a two-hundred day simple moving average of $14.57. RiverNorth Capital and Income Fund has a 52-week low of $14.23 and a 52-week high of $16.02.

Institutional Investors Weigh In On RiverNorth Capital and Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSF. Advisory Services Network LLC bought a new stake in RiverNorth Capital and Income Fund during the 3rd quarter worth approximately $35,000. WFA Asset Management Corp boosted its position in shares of RiverNorth Capital and Income Fund by 54.5% in the third quarter. WFA Asset Management Corp now owns 3,090 shares of the company’s stock worth $48,000 after purchasing an additional 1,090 shares during the period. Equitable Holdings Inc. purchased a new stake in shares of RiverNorth Capital and Income Fund in the fourth quarter worth $167,000. Absolute Investment Advisers LLC purchased a new stake in shares of RiverNorth Capital and Income Fund in the third quarter worth $193,000. Finally, Jane Street Group LLC bought a new stake in shares of RiverNorth Capital and Income Fund during the 4th quarter valued at $214,000.

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.