RiverNorth Capital and Income Fund, Inc. (NYSE:RSF – Get Free Report) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 6,490 shares, a decrease of 63.0% from the June 15th total of 17,551 shares. Based on an average trading volume of 13,203 shares, the short-interest ratio is currently 0.5 days.
Institutional Investors Weigh In On RiverNorth Capital and Income Fund
Hedge funds and other institutional investors have recently made changes to their positions in the business. TrueMark Investments LLC purchased a new position in RiverNorth Capital and Income Fund during the fourth quarter worth about $689,000. Palatine Hill Wealth Management LLC purchased a new stake in RiverNorth Capital and Income Fund in the 4th quarter valued at about $9,666,000. Nomura Holdings Inc. acquired a new position in shares of RiverNorth Capital and Income Fund during the 3rd quarter valued at about $3,680,000. Osaic Holdings Inc. increased its stake in shares of RiverNorth Capital and Income Fund by 15.9% during the 4th quarter. Osaic Holdings Inc. now owns 179,232 shares of the company’s stock valued at $2,574,000 after acquiring an additional 24,600 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of RiverNorth Capital and Income Fund during the 4th quarter worth about $214,000.
Analyst Ratings Changes
Separately, Zacks Research raised shares of RiverNorth Capital and Income Fund to a “hold” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.
RiverNorth Capital and Income Fund Price Performance
NYSE:RSF opened at $14.59 on Monday. The firm has a 50 day simple moving average of $14.60 and a 200-day simple moving average of $14.54. RiverNorth Capital and Income Fund has a 1-year low of $14.23 and a 1-year high of $15.07.
RiverNorth Capital and Income Fund Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.1371 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date of this dividend is Wednesday, July 15th. RiverNorth Capital and Income Fund’s dividend payout ratio is currently 108.67%.
RiverNorth Capital and Income Fund Company Profile
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.
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