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

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $198.93 and traded as low as $16.27. Herzfeld Credit Income Fund shares last traded at $17.20, with a volume of 10,184 shares traded.

Herzfeld Credit Income Fund Stock Down 4.9%

The firm has a 50 day moving average of $101.48 and a two-hundred day moving average of $196.11.

Insiders Place Their Bets

In other news, Chairman Thomas J. Herzfeld purchased 3,760 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was acquired at an average price of $15.32 per share, for a total transaction of $57,603.20. Following the completion of the transaction, the chairman directly owned 189,388 shares in the company, valued at $2,901,424.16. This represents a 2.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 5,188 shares of company stock valued at $80,125 over the last quarter. 42.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Herzfeld Credit Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in Herzfeld Credit Income Fund in the 1st quarter valued at about $29,000. Choreo LLC acquired a new position in Herzfeld Credit Income Fund during the fourth quarter worth about $927,000. International Assets Investment Management LLC acquired a new position in Herzfeld Credit Income Fund during the fourth quarter worth about $44,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at about $87,000. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at approximately $12,969,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

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.