Herzfeld Credit Income Fund (NASDAQ:HERZ) Shares Cross 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 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 changing hands.

Herzfeld Credit Income Fund Trading Down 1.3%

The company has a fifty day simple moving average of $65.69 and a two-hundred day simple moving average of $179.98.

Insider Activity

In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld purchased 3,760 shares of the stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $15.32 per share, for a total transaction of $57,603.20. Following the transaction, the chairman directly owned 189,388 shares in the company, valued at $2,901,424.16. This represents a 2.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 5,188 shares of company stock valued at $80,125. 42.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of HERZ. Jane Street Group LLC bought a new position in Herzfeld Credit Income Fund in the first quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter valued at $44,000. Cetera Investment Advisers bought a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter valued at $55,000. Corient Private Wealth LLC acquired a new position in shares of Herzfeld Credit Income Fund in the 4th quarter valued at $61,000. Finally, Blue Bell Private Wealth Management LLC acquired a new position in shares of Herzfeld Credit Income Fund in the 4th quarter valued at $87,000. 15.74% of the stock is owned by institutional investors.

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.