Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) Sees Large Drop in Short Interest

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 641 shares, a drop of 84.7% from the May 31st total of 4,201 shares. Based on an average trading volume of 17,882 shares, the short-interest ratio is currently 0.0 days. Approximately 0.1% of the shares of the stock are sold short.

Insider Activity at Herzfeld Credit Income Fund

In other news, Chairman Thomas J. Herzfeld purchased 3,610 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were acquired at an average price of $16.01 per share, for a total transaction of $57,796.10. Following the acquisition, the chairman directly owned 197,248 shares in the company, valued at approximately $3,157,940.48. The trade was a 1.86% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 42.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at about $12,969,000. Choreo LLC acquired a new position in shares of Herzfeld Credit Income Fund during the 4th quarter worth approximately $927,000. Hunting Hill Global Capital LLC acquired a new stake in Herzfeld Credit Income Fund during the 4th quarter valued at $90,000. Blue Bell Private Wealth Management LLC purchased a new position in Herzfeld Credit Income Fund during the fourth quarter worth $87,000. Finally, Corient Private Wealth LLC purchased a new position in Herzfeld Credit Income Fund during the fourth quarter worth $61,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Herzfeld Credit Income Fund Stock Up 2.1%

HERZ traded up $0.34 during trading on Friday, reaching $16.45. 2,649 shares of the stock were exchanged, compared to its average volume of 22,697. Herzfeld Credit Income Fund has a 1 year low of $13.71 and a 1 year high of $31.00. The business’s 50 day moving average price is $17.41 and its two-hundred day moving average price is $18.34.

Herzfeld Credit Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 12.4%.

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.