Short Interest in Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) Expands By 263.8%

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) was the recipient of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 2,536 shares, a growth of 263.8% from the April 15th total of 697 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 7,117 shares, the days-to-cover ratio is presently 0.4 days.

Insider Activity at Herzfeld Credit Income Fund

In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld acquired 3,760 shares of the stock in a transaction dated Monday, March 2nd. The stock was acquired at an average price of $15.32 per share, with a total value of $57,603.20. Following the completion of the purchase, the chairman owned 189,388 shares in the company, valued at $2,901,424.16. This trade represents a 2.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 9,284 shares of company stock valued at $145,653 over the last ninety days. Company insiders own 42.47% of the company’s stock.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC purchased a new stake in shares of Herzfeld Credit Income Fund during the fourth quarter worth approximately $61,000. Hunting Hill Global Capital LLC acquired a new stake in Herzfeld Credit Income Fund in the fourth quarter valued at $90,000. Cetera Investment Advisers acquired a new stake in Herzfeld Credit Income Fund in the fourth quarter valued at $55,000. Thomas J. Herzfeld Advisors Inc. acquired a new position in Herzfeld Credit Income Fund during the fourth quarter worth about $12,969,000. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in Herzfeld Credit Income Fund during the fourth quarter worth approximately $87,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Herzfeld Credit Income Fund Stock Up 4.4%

Herzfeld Credit Income Fund stock opened at $18.31 on Thursday. The stock’s fifty day simple moving average is $16.47 and its 200-day simple moving average is $19.94. Herzfeld Credit Income Fund has a twelve month low of $13.71 and a twelve month high of $31.00.

Herzfeld Credit Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 11.1%. The ex-dividend date is Tuesday, June 16th.

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.