Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) Sees Large Growth in Short Interest

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 4,201 shares, a growth of 166.1% from the May 14th total of 1,579 shares. Based on an average daily trading volume, of 4,048 shares, the short-interest ratio is presently 1.0 days. Approximately 0.5% of the company’s shares are short sold.

Herzfeld Credit Income Fund Stock Down 0.8%

Shares of NASDAQ:HERZ traded down $0.13 during trading hours on Friday, hitting $16.62. 20,058 shares of the company’s stock traded hands, compared to its average volume of 10,720. Herzfeld Credit Income Fund has a 1 year low of $13.71 and a 1 year high of $31.00. The business has a fifty day moving average price of $17.33 and a 200-day moving average price of $19.00.

Herzfeld Credit Income Fund Announces Dividend

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 paid a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend is Wednesday, September 16th.

Insider Activity

In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld bought 3,610 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was acquired 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 directly owned 197,248 shares of the company’s stock, valued at approximately $3,157,940.48. This represents a 1.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 4,096 shares of company stock worth $65,528 in the last ninety days. 42.47% of the stock is owned by insiders.

Institutional Trading of Herzfeld Credit Income Fund

Several institutional investors and hedge funds have recently modified their holdings of HERZ. Jane Street Group LLC bought a new stake in shares of Herzfeld Credit Income Fund during the first quarter valued at approximately $29,000. Choreo LLC bought a new stake in shares of Herzfeld Credit Income Fund during the fourth quarter valued at approximately $927,000. International Assets Investment Management LLC bought a new stake in shares of Herzfeld Credit Income Fund during the fourth quarter valued at approximately $44,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Herzfeld Credit Income Fund during the fourth quarter valued at approximately $87,000. Finally, Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of Herzfeld Credit Income Fund during the fourth quarter valued at approximately $12,969,000. 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.