Short Interest in Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) Rises By 263.8%

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 2,536 shares, an increase of 263.8% from the April 15th total of 697 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 7,117 shares, the short-interest ratio is presently 0.4 days.

Insider Activity at Herzfeld Credit Income Fund

In other news, Chairman Thomas J. Herzfeld acquired 3,760 shares of the stock in a transaction dated Monday, March 2nd. The stock was purchased at an average cost of $15.32 per share, with a total value of $57,603.20. Following the completion of the purchase, the chairman owned 189,388 shares in the company, valued at approximately $2,901,424.16. The trade was a 2.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 9,284 shares of company stock worth $145,653 over the last ninety days. Corporate insiders own 42.47% of the company’s stock.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of HERZ. Jane Street Group LLC bought a new position in shares of Herzfeld Credit Income Fund during the first quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in Herzfeld Credit Income Fund in the fourth quarter worth about $44,000. Cetera Investment Advisers bought a new position in Herzfeld Credit Income Fund in the fourth quarter worth about $55,000. Corient Private Wealth LLC bought a new position in Herzfeld Credit Income Fund in the fourth quarter worth about $61,000. Finally, Blue Bell Private Wealth Management LLC bought a new position in Herzfeld Credit Income Fund in the fourth quarter worth about $87,000. 15.74% of the stock is owned by institutional investors.

Herzfeld Credit Income Fund Stock Performance

Shares of NASDAQ:HERZ traded down $0.30 during midday trading on Friday, hitting $18.25. 3,163 shares of the stock traded hands, compared to its average volume of 8,647. The business’s 50 day moving average is $16.52 and its two-hundred day moving average is $19.91. Herzfeld Credit Income Fund has a one year low of $13.71 and a one year high of $31.00.

Herzfeld Credit Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend is Tuesday, June 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.