Key Points
- Chairman Thomas Herzfeld bought 3,610 shares on April 15 at an average price of $16.01 (~$57,796), increasing his stake to 197,248 shares (a 1.86% rise).
- The fund declared a $0.17 monthly dividend payable June 30 (record/ex-dividend date June 16), implying an annualized yield of about 11.9%.
- Several hedge funds added new positions in Q4 — notably Thomas J. Herzfeld Advisors Inc. ($12.97M) — and institutional investors now own roughly 15.74% of the company.
Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ - Get Free Report) Chairman Thomas Herzfeld purchased 3,610 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were bought at an average cost of $16.01 per share, with a total value of $57,796.10. Following the completion of the acquisition, the chairman owned 197,248 shares of the company's stock, valued at approximately $3,157,940.48. This trade represents a 1.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Herzfeld Credit Income Fund Trading Up 2.5%
NASDAQ:HERZ opened at $17.10 on Friday. The stock has a fifty day moving average price of $16.26 and a two-hundred day moving average price of $156.34. Herzfeld Credit Income Fund, Inc. has a 1 year low of $13.71 and a 1 year high of $31.00.
Herzfeld Credit Income Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.17 dividend. The ex-dividend date is Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in HERZ. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Herzfeld Credit Income Fund in the fourth quarter valued at $12,969,000. Choreo LLC purchased a new position in shares of Herzfeld Credit Income Fund in the fourth quarter valued at $927,000. Hunting Hill Global Capital LLC purchased a new position in shares of Herzfeld Credit Income Fund in the fourth quarter valued at $90,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of Herzfeld Credit Income Fund in the fourth quarter valued at $87,000. Finally, Corient Private Wealth LLC purchased a new stake in Herzfeld Credit Income Fund during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 15.74% of the company's stock.
Herzfeld Credit Income Fund Company Profile
(
Get Free Report)
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.
Further Reading
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