RENN Fund (NYSE:RCG) Trading 1.4% Higher – Should You Buy?

RENN Fund, Inc. (NYSE:RCG)’s stock price shot up 1.4% on Monday . The stock traded as high as $2.88 and last traded at $2.85. 7,906 shares changed hands during trading, a decline of 36% from the average session volume of 12,272 shares. The stock had previously closed at $2.81.

RENN Fund Price Performance

The firm has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $2.63.

Institutional Investors Weigh In On RENN Fund

A hedge fund recently bought a new stake in RENN Fund stock. Susquehanna International Group LLP purchased a new stake in RENN Fund, Inc. (NYSE:RCG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,015 shares of the company’s stock, valued at approximately $33,000. 8.26% of the stock is owned by hedge funds and other 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.