Herzfeld Credit Income Fund (NASDAQ:HERZ) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ – Get Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $19.98 and traded as low as $17.50. Herzfeld Credit Income Fund shares last traded at $18.00, with a volume of 7,238 shares trading hands.

Herzfeld Credit Income Fund Stock Performance

The stock has a 50-day moving average of $16.42 and a 200-day moving average of $19.98.

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Herzfeld Credit Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date is Tuesday, June 16th.

Insider Activity

In related news, Chairman Thomas J. Herzfeld purchased 3,610 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were bought 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 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 document filed with the SEC, which is available through this link. Over the last quarter, insiders acquired 9,284 shares of company stock worth $145,653. Corporate insiders own 42.47% of the company’s stock.

Institutional Investors Weigh In On Herzfeld Credit Income Fund

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

Herzfeld Credit Income Fund Company Profile

(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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