RENN Fund (NYSE:RCG) Stock Price Down 1.1% – Here’s Why

RENN Fund, Inc. (NYSE:RCG) shares dropped 1.1% on Friday . The company traded as low as $2.62 and last traded at $2.69. Approximately 4,546 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 11,147 shares. The stock had previously closed at $2.72.

RENN Fund Stock Performance

The firm’s 50-day simple moving average is $2.61 and its two-hundred day simple moving average is $2.62.

Institutional Trading of RENN Fund

An institutional investor recently bought a new position in RENN Fund stock. Susquehanna International Group LLP bought a new stake in shares of RENN Fund, Inc. (NYSE:RCG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,015 shares of the company’s stock, valued at approximately $33,000. Institutional investors and hedge funds 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.