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

Shares of 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 $17.19 and traded as low as $16.50. Herzfeld Credit Income Fund shares last traded at $16.6150, with a volume of 12,140 shares changing hands.

Herzfeld Credit Income Fund Stock Performance

The firm has a 50 day moving average price of $17.19 and a 200-day moving average price of $17.19.

Herzfeld Credit Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 12.3%.

Institutional Trading of Herzfeld Credit Income Fund

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of Herzfeld Credit Income Fund during the 1st quarter worth approximately $29,000. Choreo LLC purchased a new position in Herzfeld Credit Income Fund during the fourth quarter worth $927,000. International Assets Investment Management LLC purchased a new position in Herzfeld Credit Income Fund during the fourth quarter worth $44,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Herzfeld Credit Income Fund in the fourth quarter worth $87,000. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of Herzfeld Credit Income Fund in the fourth quarter worth $12,969,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

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.