Short Interest in Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) Decreases By 37.7%

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZGet Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totaling 1,579 shares, a decline of 37.7% from the April 30th total of 2,536 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 4,793 shares, the short-interest ratio is currently 0.3 days.

Insiders Place Their Bets

In other news, Chairman Thomas J. Herzfeld bought 3,610 shares of the stock in a transaction on Wednesday, April 15th. The stock was acquired at an average cost of $16.01 per share, for a total transaction of $57,796.10. Following the acquisition, the chairman owned 197,248 shares of the company’s stock, valued at $3,157,940.48. This represents a 1.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders acquired 4,096 shares of company stock worth $65,528. Insiders own 42.47% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in Herzfeld Credit Income Fund during the first quarter valued at $29,000. International Assets Investment Management LLC acquired a new stake in Herzfeld Credit Income Fund during the 4th quarter worth about $44,000. Cetera Investment Advisers acquired a new stake in Herzfeld Credit Income Fund during the 4th quarter worth about $55,000. Corient Private Wealth LLC purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter valued at about $61,000. Finally, Blue Bell Private Wealth Management LLC purchased a new position in shares of Herzfeld Credit Income Fund during the 4th quarter valued at about $87,000. Institutional investors own 15.74% of the company’s stock.

Herzfeld Credit Income Fund Stock Performance

Shares of Herzfeld Credit Income Fund stock traded down $0.01 during trading on Thursday, hitting $17.99. 188 shares of the stock traded hands, compared to its average volume of 8,450. The stock’s fifty day simple moving average is $17.13 and its 200 day simple moving average is $19.37. Herzfeld Credit Income Fund has a 52-week low of $13.71 and a 52-week high of $31.00.

Herzfeld Credit Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given 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 yield of 11.3%.

About Herzfeld Credit Income Fund

(Get Free Report)

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.

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