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

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 1,579 shares, a decrease of 37.7% from the April 30th total of 2,536 shares. Based on an average daily volume of 4,793 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company’s shares are sold short.

Insiders Place Their Bets

In other news, Chairman Thomas J. Herzfeld purchased 3,610 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were bought at an average cost of $16.01 per share, for a total transaction of $57,796.10. Following the completion of the purchase, the chairman directly owned 197,248 shares of the company’s stock, valued at approximately $3,157,940.48. This trade represents a 1.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 4,096 shares of company stock worth $65,528 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in Herzfeld Credit Income Fund in the 1st quarter valued at about $29,000. International Assets Investment Management LLC purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth $44,000. Cetera Investment Advisers purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth $55,000. Corient Private Wealth LLC purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth $61,000. Finally, Blue Bell Private Wealth Management LLC purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth $87,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Herzfeld Credit Income Fund Stock Performance

Shares of NASDAQ:HERZ opened at $18.16 on Wednesday. Herzfeld Credit Income Fund has a twelve month low of $13.71 and a twelve month high of $31.00. The firm has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $19.46.

Herzfeld Credit Income Fund Dividend Announcement

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. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%.

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.