Herzfeld Credit Income Fund (NASDAQ:HERZ) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.80 and traded as low as $16.26. Herzfeld Credit Income Fund shares last traded at $16.91, with a volume of 74,887 shares changing hands.

Herzfeld Credit Income Fund Price Performance

The business has a fifty day moving average of $17.38 and a 200 day moving average of $17.80.

Herzfeld Credit Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 12.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Insider Buying and Selling at Herzfeld Credit Income Fund

In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld acquired 3,610 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was purchased at an average cost of $16.01 per share, with a total value of $57,796.10. Following the transaction, the chairman owned 197,248 shares of the company’s stock, valued at $3,157,940.48. This trade represents a 1.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 42.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new stake in shares of Herzfeld Credit Income Fund during the first quarter valued at about $29,000. International Assets Investment Management LLC acquired a new position in shares of Herzfeld Credit Income Fund in the 4th quarter worth approximately $44,000. Cetera Investment Advisers acquired a new position in shares of Herzfeld Credit Income Fund in the 4th quarter worth approximately $55,000. Corient Private Wealth LLC purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth approximately $61,000. Finally, Blue Bell Private Wealth Management LLC purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Herzfeld Credit Income Fund Company Profile

Herzfeld Credit Income Fund (NASDAQ:HERZ) is a closed-end, non-diversified management investment company that trades on the NASDAQ Capital Market. The fund is externally managed by Herzfeld Advisors, Inc, which is responsible for day-to-day portfolio construction, credit research and risk management under the oversight of an independent board of directors.

The fund’s primary objective is to generate current income with an emphasis on preservation of capital. To pursue this goal, Herzfeld Credit Income Fund invests in a diversified portfolio of corporate debt instruments, including senior secured loans, high-yield bonds, mezzanine loans and other fixed-income securities.