Herzfeld Credit Income Fund (NASDAQ:HERZ) Shares Cross Below 200-Day Moving Average – What’s Next?

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $189.64 and traded as low as $15.25. Herzfeld Credit Income Fund shares last traded at $15.6530, with a volume of 2,478 shares traded.

Herzfeld Credit Income Fund Price Performance

The firm’s 50 day moving average price is $86.97 and its two-hundred day moving average price is $189.64.

Insider Buying and Selling

In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld acquired 3,760 shares of Herzfeld Credit Income Fund stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average cost of $15.32 per share, for a total transaction of $57,603.20. Following the purchase, the chairman owned 189,388 shares of the company’s stock, valued at approximately $2,901,424.16. This represents a 2.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 5,188 shares of company stock valued at $80,125. 42.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

A number of large investors have recently made changes to their positions in HERZ. Jane Street Group LLC bought a new stake in shares of Herzfeld Credit Income Fund during the 1st quarter valued at $29,000. International Assets Investment Management LLC bought a new position in Herzfeld Credit Income Fund in the 4th quarter worth about $44,000. Cetera Investment Advisers bought a new position in Herzfeld Credit Income Fund in the 4th quarter worth about $55,000. Corient Private Wealth LLC purchased a new position in Herzfeld Credit Income Fund during the 4th quarter valued at about $61,000. Finally, Blue Bell Private Wealth Management LLC purchased a new position in Herzfeld Credit Income Fund during the 4th quarter valued at about $87,000. 15.74% of the stock is owned by institutional investors.

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.