RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) Sees Significant Increase in Short Interest

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 15,752 shares, an increase of 83.4% from the December 31st total of 8,591 shares. Based on an average daily trading volume, of 13,064 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily trading volume, of 13,064 shares, the days-to-cover ratio is currently 1.2 days.

RiverNorth Capital and Income Fund Price Performance

Shares of NYSE:RSF traded down $0.02 during midday trading on Friday, hitting $14.50. The stock had a trading volume of 10,594 shares, compared to its average volume of 10,400. RiverNorth Capital and Income Fund has a 12 month low of $14.23 and a 12 month high of $16.02. The business’s 50-day simple moving average is $14.49 and its 200-day simple moving average is $14.62.

RiverNorth Capital and Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.1371 dividend. The ex-dividend date is Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 11.3%. RiverNorth Capital and Income Fund’s dividend payout ratio is 117.33%.

Hedge Funds Weigh In On RiverNorth Capital and Income Fund

A number of hedge funds have recently added to or reduced their stakes in RSF. WFA Asset Management Corp lifted its stake in RiverNorth Capital and Income Fund by 54.5% during the third quarter. WFA Asset Management Corp now owns 3,090 shares of the company’s stock worth $48,000 after purchasing an additional 1,090 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of RiverNorth Capital and Income Fund during the 3rd quarter worth $35,000. Absolute Investment Advisers LLC acquired a new stake in RiverNorth Capital and Income Fund in the third quarter valued at about $193,000. TrueMark Investments LLC bought a new position in RiverNorth Capital and Income Fund in the fourth quarter valued at about $689,000. Finally, Nomura Holdings Inc. bought a new position in RiverNorth Capital and Income Fund in the third quarter valued at about $3,680,000.

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.