Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) Short Interest Down 84.7% in June

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 641 shares, a drop of 84.7% from the May 31st total of 4,201 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 17,882 shares, the days-to-cover ratio is presently 0.0 days.

Insider Transactions at Herzfeld Credit Income Fund

In other news, Chairman Thomas J. Herzfeld purchased 3,610 shares of Herzfeld Credit Income Fund stock in a transaction dated Wednesday, April 15th. The stock was bought 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 in the company, valued at $3,157,940.48. The trade was a 1.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 42.47% of the company’s stock.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hunting Hill Global Capital LLC bought a new stake in Herzfeld Credit Income Fund during the 4th quarter valued at $90,000. Blue Bell Private Wealth Management LLC acquired a new position in Herzfeld Credit Income Fund during the 4th quarter worth $87,000. Corient Private Wealth LLC bought a new position in shares of Herzfeld Credit Income Fund in the fourth quarter worth $61,000. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of Herzfeld Credit Income Fund in the fourth quarter worth $12,969,000. Finally, Cetera Investment Advisers acquired a new position in shares of Herzfeld Credit Income Fund during the fourth quarter valued at $55,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

Herzfeld Credit Income Fund Trading Down 2.2%

Shares of NASDAQ:HERZ opened at $16.12 on Friday. The company’s 50-day moving average price is $17.40 and its 200 day moving average price is $18.36. Herzfeld Credit Income Fund has a fifty-two week low of $13.71 and a fifty-two week high of $31.00.

Herzfeld Credit Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 12.7%.

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.