Herzfeld Credit Income Fund (NASDAQ:HERZ) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

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 $17.80 and traded as low as $16.26. Herzfeld Credit Income Fund shares last traded at $16.91, with a volume of 74,887 shares trading hands.

Herzfeld Credit Income Fund Stock Up 0.5%

The stock’s fifty day simple moving average is $17.38 and its 200 day simple moving average is $17.80.

Herzfeld Credit Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%.

Insider Buying and Selling

In related news, Chairman Thomas J. Herzfeld acquired 3,610 shares of Herzfeld Credit Income Fund stock in a transaction that occurred on Wednesday, April 15th. The shares were purchased at an average price of $16.01 per share, for a total transaction of $57,796.10. Following the completion of the transaction, the chairman owned 197,248 shares in the company, valued at $3,157,940.48. This represents a 1.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 42.47% of the company’s stock.

Institutional Trading of Herzfeld Credit Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hunting Hill Global Capital LLC acquired a new position in shares of Herzfeld Credit Income Fund during the 4th quarter valued at about $90,000. Blue Bell Private Wealth Management LLC acquired a new stake in Herzfeld Credit Income Fund during the fourth quarter worth about $87,000. International Assets Investment Management LLC acquired a new stake in Herzfeld Credit Income Fund during the fourth quarter worth about $44,000. Choreo LLC purchased a new position in Herzfeld Credit Income Fund during the fourth quarter worth about $927,000. Finally, Corient Private Wealth LLC acquired a new position in Herzfeld Credit Income Fund in the 4th quarter valued at about $61,000. 15.74% of the stock is owned by institutional investors and hedge funds.

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.