Herzfeld Credit Income Fund (NASDAQ:HERZ) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $148.56 and traded as low as $16.60. Herzfeld Credit Income Fund shares last traded at $16.7450, with a volume of 7,774 shares changing hands.

Herzfeld Credit Income Fund Trading Down 3.4%

The company has a 50-day moving average of $16.16 and a 200-day moving average of $148.56.

Herzfeld Credit Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) annualized dividend and a dividend yield of 12.2%.

Insider Activity

In related news, Chairman Thomas J. Herzfeld bought 3,760 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average price of $15.32 per share, with a total value of $57,603.20. Following the completion of the transaction, the chairman directly owned 189,388 shares in the company, valued at approximately $2,901,424.16. This represents a 2.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 9,284 shares of company stock worth $145,653 over the last 90 days. 42.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Herzfeld Credit Income Fund during the first quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in shares of Herzfeld Credit Income Fund during the fourth quarter valued at approximately $44,000. Cetera Investment Advisers purchased a new position in shares of Herzfeld Credit Income Fund during the fourth quarter valued at approximately $55,000. Corient Private Wealth LLC purchased a new position in shares of Herzfeld Credit Income Fund during the fourth quarter valued at approximately $61,000. Finally, Blue Bell Private Wealth Management LLC purchased a new position in shares of Herzfeld Credit Income Fund during the fourth quarter valued at 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.