RENN Fund (NYSE:RCG) Trading Up 1.4% – Here’s Why

RENN Fund, Inc. (NYSE:RCG)’s share price rose 1.4% during trading on Monday . The stock traded as high as $2.88 and last traded at $2.85. Approximately 7,906 shares changed hands during trading, a decline of 36% from the average daily volume of 12,272 shares. The stock had previously closed at $2.81.

RENN Fund Stock Performance

The firm has a 50 day simple moving average of $2.67 and a 200-day simple moving average of $2.63.

Institutional Trading of RENN Fund

A hedge fund recently raised its stake in RENN Fund stock. Horizon Kinetics Asset Management LLC grew its position in RENN Fund, Inc. (NYSE:RCG) by 9.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 878,123 shares of the company’s stock after acquiring an additional 77,134 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in RENN Fund were worth $2,336,000 at the end of the most recent reporting period. Institutional investors own 8.26% of the company’s stock.

RENN Fund Company Profile

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. The fund employs a fundamental analysis with a bottom-up stock picking approach to create its portfolio. It was formerly known as RENN Global Entrepreneurs Fund, Inc RENN Fund, Inc was formed on January 20, 1994 and is domiciled in the United States.