Herzfeld Credit Income Fund (NASDAQ:HERZ) Shares Pass Below 200-Day Moving Average – What’s Next?

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.23 and traded as low as $17.00. Herzfeld Credit Income Fund shares last traded at $17.4540, with a volume of 6,596 shares changing hands.

Herzfeld Credit Income Fund Price Performance

The stock’s 50-day moving average price is $16.14 and its 200 day moving average price is $20.23.

Herzfeld Credit Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 11.7%.

Insider Activity

In other news, Chairman Thomas J. Herzfeld acquired 3,610 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was purchased at an average price of $16.01 per share, with a total value of $57,796.10. Following the completion of the acquisition, the chairman owned 197,248 shares of the company’s stock, valued at $3,157,940.48. This trade represents a 1.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 9,284 shares of company stock valued at $145,653 over the last ninety days. Corporate insiders own 42.47% of the company’s stock.

Institutional Investors Weigh In On Herzfeld Credit Income Fund

A number of hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the first quarter valued at about $29,000. International Assets Investment Management LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at about $44,000. Cetera Investment Advisers purchased a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at about $55,000. Corient Private Wealth LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at about $61,000. Finally, Blue Bell Private Wealth Management LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at about $87,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

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.