Short Interest in Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) Rises By 166.1%
by Tristan Rich · The Markets DailyHerzfeld Credit Income Fund, Inc. (NASDAQ:HERZ – Get Free Report) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 4,201 shares, an increase of 166.1% from the May 14th total of 1,579 shares. Based on an average trading volume of 4,048 shares, the short-interest ratio is presently 1.0 days. Currently, 0.5% of the company’s stock are short sold.
Herzfeld Credit Income Fund Price Performance
Shares of NASDAQ:HERZ traded down $0.13 during midday trading on Friday, hitting $16.62. 20,058 shares of the stock were exchanged, compared to its average volume of 10,720. Herzfeld Credit Income Fund has a 52-week low of $13.71 and a 52-week high of $31.00. The business’s fifty day simple moving average is $17.33 and its two-hundred day simple moving average is $19.00.
Herzfeld Credit Income Fund Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 12.3%. The ex-dividend date is Wednesday, September 16th.
Insider Activity
In other news, Chairman Thomas J. Herzfeld acquired 3,610 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was acquired at an average cost of $16.01 per share, for a total transaction of $57,796.10. Following the completion of the acquisition, the chairman owned 197,248 shares in the company, valued at approximately $3,157,940.48. The trade was a 1.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 4,096 shares of company stock worth $65,528 in the last ninety days. 42.47% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Herzfeld Credit Income Fund
Several institutional investors have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC bought a new position in shares of Herzfeld Credit Income Fund in the fourth quarter worth about $87,000. Choreo LLC bought a new position in shares of Herzfeld Credit Income Fund in the fourth quarter worth about $927,000. International Assets Investment Management LLC bought a new position in shares of Herzfeld Credit Income Fund in the fourth quarter worth about $44,000. Corient Private Wealth LLC acquired a new stake in Herzfeld Credit Income Fund during the fourth quarter worth about $61,000. Finally, Thomas J. Herzfeld Advisors Inc. bought a new position in Herzfeld Credit Income Fund during the fourth quarter valued at about $12,969,000. 15.74% of the stock is currently 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.