Herzfeld Credit Income Fund (NASDAQ:HERZ) Stock Passes Below 200 Day Moving Average – Should You Sell?

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 business’s 50-day moving average price is $86.97 and its 200 day moving average price is $189.64.

Insider Transactions at Herzfeld Credit Income Fund

In other news, Chairman Thomas J. Herzfeld purchased 3,760 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $15.32 per share, with a total value of $57,603.20. Following the acquisition, the chairman directly owned 189,388 shares in the company, valued at approximately $2,901,424.16. This trade represents a 2.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 5,188 shares of company stock valued at $80,125. Corporate insiders own 42.47% of the company’s stock.

Institutional Investors Weigh In On Herzfeld Credit Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Thomas J. Herzfeld Advisors Inc. bought a new stake in Herzfeld Credit Income Fund during the fourth quarter valued at $12,969,000. Choreo LLC purchased a new position in Herzfeld Credit Income Fund during the fourth quarter worth about $927,000. Hunting Hill Global Capital LLC bought a new position in Herzfeld Credit Income Fund in the 4th quarter worth about $90,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter valued at about $87,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors 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.