RENN Fund (NYSEAMERICAN:RCG) Shares Up 1.5% – Time to Buy?

RENN Fund, Inc. (NYSEAMERICAN:RCG)’s share price was up 1.5% during trading on Wednesday . The stock traded as high as $3.28 and last traded at $3.28. Approximately 6,247 shares were traded during trading, a decline of 48% from the average daily volume of 12,020 shares. The stock had previously closed at $3.23.

RENN Fund Stock Up 1.5%

The stock’s 50 day moving average price is $2.86 and its two-hundred day moving average price is $2.69.

Institutional Investors Weigh In On RENN Fund

An institutional investor recently raised its position in RENN Fund stock. Horizon Kinetics Asset Management LLC increased its stake in shares of RENN Fund, Inc. (NYSEAMERICAN:RCG) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 865,948 shares of the company’s stock after acquiring an additional 48,404 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in RENN Fund were worth $2,225,000 at the end of the most recent reporting period.

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.