RiverNorth Capital and Income Fund, Inc. (NYSE:RSF – Get Free Report) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 6,490 shares, a drop of 63.0% from the June 15th total of 17,551 shares. Based on an average daily volume of 13,203 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in shares of RiverNorth Capital and Income Fund in the third quarter worth about $35,000. CoreCap Advisors LLC purchased a new stake in shares of RiverNorth Capital and Income Fund during the 2nd quarter valued at about $95,000. Equitable Holdings Inc. purchased a new stake in shares of RiverNorth Capital and Income Fund during the 4th quarter valued at about $167,000. Jane Street Group LLC acquired a new position in RiverNorth Capital and Income Fund during the 4th quarter worth approximately $214,000. Finally, Everstar Asset Management LLC purchased a new position in RiverNorth Capital and Income Fund in the 1st quarter worth approximately $466,000.
Wall Street Analyst Weigh In
Separately, Zacks Research upgraded RiverNorth Capital and Income Fund to a “hold” rating in a report on Monday, June 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.
RiverNorth Capital and Income Fund Price Performance
Shares of RSF stock opened at $14.59 on Monday. The company’s fifty day simple moving average is $14.60 and its 200-day simple moving average is $14.54. RiverNorth Capital and Income Fund has a 52 week low of $14.23 and a 52 week high of $15.07.
RiverNorth Capital and Income Fund Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.1371 dividend. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date is Wednesday, July 15th. RiverNorth Capital and Income Fund’s dividend payout ratio is currently 108.67%.
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.
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