RENN Fund, Inc. (NYSEAMERICAN:RCG – Get Rating) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 3,900 shares, a decrease of 75.6% from the June 30th total of 16,000 shares. Based on an average daily volume of 6,700 shares, the days-to-cover ratio is currently 0.6 days.
Hedge Funds Weigh In On RENN Fund
Several institutional investors and hedge funds have recently made changes to their positions in RCG. Mad River Investors lifted its stake in RENN Fund by 33.3% during the first quarter. Mad River Investors now owns 28,000 shares of the company's stock worth $60,000 after purchasing an additional 7,000 shares during the last quarter. Bank of America Corp DE increased its position in RENN Fund by 62.8% in the first quarter. Bank of America Corp DE now owns 19,657 shares of the company's stock worth $42,000 after buying an additional 7,579 shares during the period. Yakira Capital Management Inc. acquired a new stake in RENN Fund in the fourth quarter worth $48,000. Pecaut & CO. increased its position in RENN Fund by 36.3% in the first quarter. Pecaut & CO. now owns 89,423 shares of the company's stock worth $193,000 after buying an additional 23,792 shares during the period. Finally, Moors & Cabot Inc. increased its position in RENN Fund by 19.9% in the first quarter. Moors & Cabot Inc. now owns 198,705 shares of the company's stock worth $429,000 after buying an additional 32,920 shares during the period.
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RENN Fund Price Performance
RCG traded up $0.02 on Thursday, reaching $2.17. 6,203 shares of the company's stock were exchanged, compared to its average volume of 13,226. RENN Fund has a twelve month low of $2.00 and a twelve month high of $3.28.
About RENN Fund
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RENN Fund, Inc is a closed ended equity mutual fund launched by RENN Capital Group, Inc The fund is co-managed by Horizon Kinetics Asset Management LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It seeks to invest in stocks of small-cap and mid-cap companies.
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