Herzfeld Credit Income Fund (NASDAQ:HERZ) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZGet Free Report)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.19 and traded as low as $16.50. Herzfeld Credit Income Fund shares last traded at $16.6150, with a volume of 12,140 shares traded.

Herzfeld Credit Income Fund Price Performance

The firm’s 50 day simple moving average is $17.15 and its two-hundred day simple moving average is $17.15.

Herzfeld Credit Income Fund Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 12.4%.

Institutional Investors Weigh In On Herzfeld Credit Income Fund

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

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.

Further Reading

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