Herzfeld Credit Income Fund (NASDAQ:HERZ) Shares Cross Below 200-Day Moving Average – Should You Sell?

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $179.98 and traded as low as $15.27. Herzfeld Credit Income Fund shares last traded at $15.50, with a volume of 8,646 shares traded.

Herzfeld Credit Income Fund Trading Down 1.3%

The business’s fifty day simple moving average is $65.69 and its 200 day simple moving average is $179.98.

Insider Activity

In related news, Chairman Thomas J. Herzfeld purchased 3,760 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were acquired at an average cost of $15.32 per share, with a total value of $57,603.20. Following the completion of the purchase, the chairman directly owned 189,388 shares of the company’s stock, valued at $2,901,424.16. This trade represents a 2.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 5,188 shares of company stock worth $80,125 in the last quarter. 42.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in Herzfeld Credit Income Fund in the 1st quarter valued at $29,000. International Assets Investment Management LLC acquired a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter valued at $44,000. Cetera Investment Advisers bought a new stake in shares of Herzfeld Credit Income Fund during the fourth quarter worth $55,000. Corient Private Wealth LLC bought a new stake in shares of Herzfeld Credit Income Fund during the fourth quarter worth $61,000. Finally, Blue Bell Private Wealth Management LLC acquired a new position in shares of Herzfeld Credit Income Fund during the fourth quarter valued at $87,000. 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.