Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ – Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 4,201 shares, an increase of 166.1% from the May 14th total of 1,579 shares. Based on an average trading volume of 4,048 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.5% of the shares of the company are sold short.
Insider Buying and Selling
In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld bought 3,610 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were purchased at an average cost of $16.01 per share, for a total transaction of $57,796.10. Following the transaction, the chairman directly owned 197,248 shares in the company, valued at $3,157,940.48. The trade was a 1.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders purchased 4,096 shares of company stock valued at $65,528. 42.47% of the stock is owned by company insiders.
Institutional Investors Weigh In On Herzfeld Credit Income Fund
Several large investors have recently modified their holdings of HERZ. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter worth $12,969,000. Choreo LLC bought a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter worth $927,000. Hunting Hill Global Capital LLC bought a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter worth $90,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter worth $87,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter worth $61,000. 15.74% of the stock is owned by institutional investors.
Herzfeld Credit Income Fund Stock Down 0.8%
Herzfeld Credit Income Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend is Wednesday, September 16th.
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.
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