Rand Capital Corporation (NASDAQ:RAND) Short Interest Update

Key Points

• Rand Capital Corporation experienced a significant increase in short interest in July, with shares sold short rising by 100% to 5,400 shares.
• A hedge fund, Courier Capital LLC, acquired 16,763 shares of Rand Capital, totaling approximately $315,000.
• Rand Capital announced a quarterly dividend of $0.29, resulting in an annualized dividend yield of 6.4%.

Rand Capital Corporation (NASDAQ:RAND - Get Free Report) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 5,400 shares, anincreaseof100.0% from the June 30th total of 2,700 shares. Currently,0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 5,600 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 5,600 shares, the short-interest ratio is currently 1.0 days. Currently,0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Rand Capital from a "hold" rating to a "buy" rating in a research report on Friday, May 16th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Rand Capital stock. Courier Capital LLC bought a new position in Rand Capital Corporation (NASDAQ:RAND - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 16,763 shares of the asset manager's stock, valued at approximately $315,000. Courier Capital LLC owned about 0.56% of Rand Capital as of its most recent SEC filing.

Rand Capital Stock Down 1.7%

Shares of NASDAQ RAND traded down $0.30 during midday trading on Wednesday, reaching $17.43. 2,187 shares of the stock were exchanged, compared to its average volume of 5,278. The firm has a market cap of $51.76 million, a price-to-earnings ratio of -7.17 and a beta of 0.27. Rand Capital has a twelve month low of $14.95 and a twelve month high of $31.89. The firm has a 50-day simple moving average of $16.76 and a two-hundred day simple moving average of $19.32.

Rand Capital (NASDAQ:RAND - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The asset manager reported $0.33 EPS for the quarter. The business had revenue of $1.60 million for the quarter. Rand Capital had a negative net margin of 90.42% and a positive return on equity of 6.97%.

Rand Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 6.7%. Rand Capital's dividend payout ratio (DPR) is presently 36.59%.

About Rand Capital

Rand Capital Corporation is a business development company specializing in subordinated debt with warrants or preferred equity and venture capital investments. Within private equity, the firm specializing in capital growth and lower middle market investments. Within venture capital, it specializing in early to late-stage private businesses.