Herzfeld Credit Income Fund (NASDAQ:HERZ) Shares Pass Below 200-Day Moving Average – Time to Sell?

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $198.93 and traded as low as $16.27. Herzfeld Credit Income Fund shares last traded at $17.20, with a volume of 10,184 shares.

Herzfeld Credit Income Fund Price Performance

The business has a fifty day moving average of $109.67 and a 200-day moving average of $198.93.

Insider Transactions at Herzfeld Credit Income Fund

In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld purchased 3,760 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $15.32 per share, with a total value of $57,603.20. Following the completion of the purchase, the chairman owned 189,388 shares in the company, valued at $2,901,424.16. This trade represents a 2.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 5,188 shares of company stock worth $80,125. Insiders own 42.47% of the company’s stock.

Institutional Investors Weigh In On Herzfeld Credit Income Fund

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

About Herzfeld Credit Income Fund

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.