Herzfeld Credit Income Fund (NASDAQ:HERZ) Shares to Reverse Split on Monday, February 9th

Herzfeld Credit Income Fund, Inc. (NASDAQ:HERZ) shares are scheduled to reverse split before the market opens on Monday, February 9th. The 1-10 reverse split was announced on Thursday, February 5th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, February 6th.

Herzfeld Credit Income Fund Price Performance

Shares of HERZ stock traded up $0.06 on Thursday, reaching $1.88. 113,111 shares of the company’s stock were exchanged, compared to its average volume of 91,420. Herzfeld Credit Income Fund has a 52 week low of $1.62 and a 52 week high of $3.10. The company’s fifty day simple moving average is $2.27 and its 200 day simple moving average is $2.37.

Herzfeld Credit Income Fund Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, December 30th. Shareholders of record on Friday, November 21st were issued a dividend of $0.6867 per share. The ex-dividend date was Wednesday, December 31st.

Hedge Funds Weigh In On Herzfeld Credit Income Fund

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of Herzfeld Credit Income Fund during the 4th quarter worth approximately $44,000. Choreo LLC acquired a new stake in shares of Herzfeld Credit Income Fund in the fourth quarter valued at about $927,000. Finally, Jane Street Group LLC acquired a new stake in Herzfeld Credit Income Fund in the 1st quarter worth about $29,000. 15.74% of the stock is owned by institutional investors and hedge funds.

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.