Patrick W. Galley Increases Stake in RiverNorth Capital & Income Fund
CEO Boosts Confidence with Stock Purchase
Patrick W. Galley, the Chief Executive Officer of RiverNorth Capital & Income Fund, Inc. (NYSE:RSF), has recently shown his commitment to the company by purchasing over $1,600 worth of shares. This transaction took place on March 22, 2024, with Galley acquiring 100 shares at $16.095 each.
CEO’s Holding Rises to 168,647 Shares
This latest move by the CEO brings his total ownership in the company to 168,647 shares of common stock. Such actions by executives can serve as a signal of their belief in the company’s future.
Market Watchers Take Note
Investors often pay close attention to such transactions, as they can offer insights into the executive’s confidence in the company’s performance. RiverNorth Capital & Income Fund, Inc., known for its investment strategies, has not provided any additional comments regarding this recent stock purchase.
Financial Insights from InvestingPro
Patrick W. Galley’s purchase of additional shares indicates a positive outlook on the company’s direction. With RSF’s stock price at $16.02 as of the previous close, investors may find value in its near 52-week high.
RiverNorth Capital & Income Fund’s market capitalization is currently at $61.2 million, making it an appealing choice for investors seeking smaller-cap opportunities with growth potential.
InvestingPro notes that RSF has maintained dividend payments for 9 years, with the ex-date of the last dividend on March 14, 2024. This consistency may interest income-focused investors.
Considerations for Investors
Despite these positive aspects, RSF faces challenges with weak gross profit margins and a poor free cash flow yield, as highlighted by InvestingPro. Investors prioritizing profitability and cash generation should take note of these factors.
For more insights and tips on RSF, investors can explore InvestingPro’s comprehensive analysis. Remember to use the coupon code PRONEWS24 for an additional 10% discount on a yearly or biyearly Pro and Pro+ subscription.
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