CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Rand Capital Corporation (RAND)

BDC - Equity Focused BDC

Data as of Oct. 21, 2021
Current
Market Price $15.62 ( $0.00)
NAV (June 30, 2021) $22.51 ( $0.00)
Premium / Discount -30.61% (0.00%)
Fund Info
Inception Aug. 18, 1995
Sponsor Rand Capital
Website www.randcapital.com/
Phone 716-853-0802
Location New York
Incorporated New York
Staggered Board No
Objective: The company invest in equity instruments, debt instruments of small-to mid-sized companies.
Capital & Leverage
Outstanding Shares 2,582,169
Total Assets (Reported: June 30, 2021) $73M
Estimated Total Assets $68M
Net Assets $58M
Market Cap $40M
Portfolio Turnover 22.60%
Debt-to-Equity 0.0000
Total Leverage 14.77%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 12.45%
Non Lev Exp Ratio 11.65%
Gross Asset Expense Ratio 8.83%
Gross Asset Non Lev Exp Ratio 8.27%
Rel Lev Cost 3.84%
Discount Data
Average Discount (3 Yr) -35.06%
Discount Low(3 Yr) -68.04%
Discount High(3 Yr) 9.99%
Discount Rel Range 47.97%
Comp Discount 3.14
Discount St Dev (1Yr) 10.52
Z-Stat
Z-Stat (6mo) -1.63
Z-Stat (1Yr) -1.08
Z-Stat (3Yr) 0.30
Comp Z-Stat (6mo) -0.70
Comp Z-Stat (3Yr) -0.02
Distribution Data
Market Yield 2.56%
Income Yield 2.56%
Lev Adj NAV Yield 1.55%
Av Yield on Debt Investments 11.90
Distribution Frequency Q
Current Distribution $0.100
Current Income $0.100
Ex-Date 9/1/21
Payable Date 9/16/21
Div Growth (3yr) %
Dividend Change -92.5% on 2/26/21
Expected Div
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $15
Avg Volume 30 day 1,004
Avg Volume 90 day 929
Volume Trend 8.07%
Comp Volume Trend 22.28%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
-33.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
-28.0%
Price Correlation (1yr)
vs. CEFA's BDC Index
-31.0%
Most Correlated Peer (Mk Pr): EQS 9.0%
Price St Dev (1Yr) 57.3%
NAV St Dev (1Yr) 20.1%
Earnings
Earnings / Share (6/30/21) $-0.314
Adj Core NII Coverage 96.47%
1 Yr Avg NII Coverage -214.78%
1 Yr Avg Adj Core NII Coverage 121.05%
NII Trend -392.35%
Adj Core NII Trend -13.55%
Performance
Price Beta (2yr)
vs. S&P 500 (TR)
-0.13
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
-0.09
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
-0.03
Portfolio Data
Avg Libor Floor % %
% Loans with Libor Floor 0%

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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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