Herzfeld Credit Income Fund (NASDAQ:HERZ) Stock Passes Below 200-Day Moving Average – Here’s Why
by Sarita Garza · The Markets DailyHerzfeld Credit Income Fund, Inc. (NASDAQ:HERZ – Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $189.64 and traded as low as $15.25. Herzfeld Credit Income Fund shares last traded at $15.6530, with a volume of 2,478 shares.
Herzfeld Credit Income Fund Trading Up 3.3%
The stock’s 50-day simple moving average is $83.40 and its 200 day simple moving average is $188.06.
Insider Buying and Selling
In other Herzfeld Credit Income Fund news, Chairman Thomas J. Herzfeld bought 3,760 shares of the stock in a transaction on Monday, March 2nd. The stock was acquired at an average cost of $15.32 per share, for a total transaction of $57,603.20. Following the completion of the acquisition, the chairman owned 189,388 shares in the company, valued at $2,901,424.16. This trade represents a 2.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased a total of 5,188 shares of company stock worth $80,125 over the last ninety days. Company insiders own 42.47% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of HERZ. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth about $12,969,000. Choreo LLC acquired a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter worth about $927,000. Hunting Hill Global Capital LLC acquired a new stake in shares of Herzfeld Credit Income Fund in the 4th quarter worth about $90,000. Blue Bell Private Wealth Management LLC bought a new position in Herzfeld Credit Income Fund in the 4th quarter valued at about $87,000. Finally, Corient Private Wealth LLC bought a new position in Herzfeld Credit Income Fund during the 4th quarter valued at $61,000. 15.74% of the stock is owned by institutional investors.
About Herzfeld Credit Income Fund
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.