Short Interest in RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) Grows By 132.3%

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 19,757 shares, a growth of 132.3% from the July 30th total of 8,505 shares. Based on an average daily volume of 10,462 shares, the days-to-cover ratio is currently 1.9 days.

RiverNorth Capital and Income Fund Trading Up 0.1%

Shares of RSF traded up $0.02 during midday trading on Friday, hitting $14.51. 8,641 shares of the company traded hands, compared to its average volume of 11,727. The stock has a 50-day moving average of $14.57 and a 200-day moving average of $14.56. RiverNorth Capital and Income Fund has a one year low of $14.23 and a one year high of $15.07.

RiverNorth Capital and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.1371 dividend. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date of this dividend was Wednesday, July 15th. RiverNorth Capital and Income Fund’s payout ratio is currently 109.33%.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of RiverNorth Capital and Income Fund to a “hold” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On RiverNorth Capital and Income Fund

Several hedge funds have recently added to or reduced their stakes in the company. Palatine Hill Wealth Management LLC purchased a new position in RiverNorth Capital and Income Fund in the 4th quarter worth $9,666,000. Nomura Holdings Inc. bought a new stake in shares of RiverNorth Capital and Income Fund in the 3rd quarter valued at about $3,680,000. Osaic Holdings Inc. boosted its holdings in 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 period. Everstar Asset Management LLC bought a new position in RiverNorth Capital and Income Fund during the 1st quarter worth approximately $466,000. Finally, Equitable Holdings Inc. purchased a new position in RiverNorth Capital and Income Fund in the 2nd quarter worth approximately $379,000.

About RiverNorth Capital and Income Fund

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.