RENN Fund (NYSE:RCG) Stock Price Down 1.1% – What’s Next?

RENN Fund, Inc. (NYSE:RCG) shares were down 1.1% during mid-day trading on Friday . The stock 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 Trading Down 1.1%

The firm has a 50-day moving average of $2.61 and a two-hundred day moving average of $2.61.

Institutional Inflows and Outflows

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

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.