Herzfeld Credit Income Fund (NASDAQ:HERZ) Stock Passes Below 200 Day Moving Average – Should You Sell?

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $219.74 and traded as low as $16.50. Herzfeld Credit Income Fund shares last traded at $16.50, with a volume of 32,969 shares traded.

Herzfeld Credit Income Fund Stock Performance

The firm has a 50 day simple moving average of $172.58 and a 200 day simple moving average of $219.74.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

A number of hedge funds have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter valued at about $87,000. Hunting Hill Global Capital LLC bought a new position in Herzfeld Credit Income Fund during the fourth quarter valued at approximately $90,000. Jane Street Group LLC purchased a new stake in Herzfeld Credit Income Fund in the first quarter worth approximately $29,000. Cetera Investment Advisers bought a new stake in Herzfeld Credit Income Fund in the 4th quarter worth approximately $55,000. Finally, Thomas J. Herzfeld Advisors Inc. bought a new stake in Herzfeld Credit Income Fund in the 4th quarter worth approximately $12,969,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

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.