RiverNorth Capital and Income Fund (NYSE:RSF) Shares Down 0.1% – Time to Sell?

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF)’s share price was down 0.1% on Friday . The company traded as low as $14.33 and last traded at $14.3490. Approximately 1,207 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 11,448 shares. The stock had previously closed at $14.37.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised RiverNorth Capital and Income Fund to a “hold” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

RiverNorth Capital and Income Fund Stock Down 0.1%

The business has a fifty day moving average of $14.52 and a 200-day moving average of $14.56.

RiverNorth Capital and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.1371 per share. This represents a c) annualized dividend and a yield of 11.5%. The ex-dividend date was Wednesday, July 15th. RiverNorth Capital and Income Fund’s dividend payout ratio is presently 109.33%.

Institutional Investors Weigh In On RiverNorth Capital and Income Fund

Several hedge funds have recently modified their holdings of the business. Equitable Holdings Inc. bought a new position in shares of RiverNorth Capital and Income Fund during the 2nd quarter worth approximately $379,000. CoreCap Advisors LLC acquired a new stake in RiverNorth Capital and Income Fund in the second quarter valued at approximately $95,000. Everstar Asset Management LLC purchased a new position in RiverNorth Capital and Income Fund in the first quarter worth $466,000. Finally, Palatine Hill Wealth Management LLC purchased a new position in RiverNorth Capital and Income Fund in the fourth quarter worth $9,666,000.

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.