Herzfeld Credit Income Fund (NASDAQ:HERZ) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Herzfeld Credit Income Fund Price Performance

The company’s 50 day simple moving average is $17.38 and its 200-day simple moving average is $17.74.

Herzfeld Credit Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Wednesday, September 16th.

Insider Buying and Selling at Herzfeld Credit Income Fund

In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld purchased 3,610 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was purchased at an average cost of $16.01 per share, with a total value of $57,796.10. Following the purchase, the chairman owned 197,248 shares of the company’s stock, valued at approximately $3,157,940.48. The trade was a 1.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 42.47% of the company’s stock.

Institutional Trading of Herzfeld Credit Income Fund

A number of large investors have recently modified their holdings of HERZ. Thomas J. Herzfeld Advisors Inc. purchased a new position in Herzfeld Credit Income Fund during the 4th quarter worth $12,969,000. Choreo LLC bought a new stake in Herzfeld Credit Income Fund during the 4th quarter valued at $927,000. Hunting Hill Global Capital LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter worth $90,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter worth $87,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter worth $61,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

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.