SCHEDULE: Herzfeld Group Boosts Stake in Credit Income Fund

Erik M. Herzfeld and affiliated entities increased their beneficial ownership in Herzfeld Credit Income Fund, Inc. to 37.57% through recent open market transactions.

Summary

• Erik M. Herzfeld, et al., collectively beneficially own 752,442 shares of Herzfeld Credit Income Fund, Inc. common stock.
• This aggregate amount represents 37.57% of the 2,002,996 shares outstanding as reported by the issuer as of February 23, 2025.
• The reporting person holds sole voting and dispositive power over 71,411 shares.
• Shared voting and dispositive power is held over 681,031 shares, primarily through advisory client accounts.
• Between March 2, 2026, and March 13, 2026, advisory clients engaged in several open market transactions, primarily purchasing shares.
• Notable purchases include 14,340 shares at $15.3832 on March 2, 2026, and 5,362 shares at $15.2522 on March 13, 2026.
• Minor sales by advisory clients included 41 shares at $15.605 on March 5, 2026, and 795 shares at $15.82 on March 9, 2026.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development. The increased beneficial ownership by Erik M. Herzfeld and his advisory clients suggests continued confidence in the Herzfeld Credit Income Fund, Inc., despite minor selling activity.

Positives

• The reporting person and affiliated advisory clients have increased their aggregate beneficial ownership, indicating continued confidence in the issuer.
• Net purchases by advisory clients suggest a positive outlook from a significant stakeholder group.

Negatives

• Minor sales by advisory clients occurred on March 5, 2026 (41 shares) and March 9, 2026 (795 shares), though these were outweighed by purchases.

Future Outlook

The filing does not provide forward-looking statements or guidance from the issuer or the reporting person regarding the company's future performance or strategy.

Industry Context

StockSavvy.ai notes that an increase in beneficial ownership by a significant insider group, particularly one associated with the fund's namesake, can often be interpreted by the market as a vote of confidence in the fund's strategy and underlying assets. This is especially relevant for closed-end funds like Herzfeld Credit Income Fund, Inc., where insider activity can signal management's view on the fund's valuation relative to its net asset value (NAV).

Related Party Transactions

• Transactions by Advisory clients managed by the reporting person, Erik M. Herzfeld, involving purchases and sales of the issuer's common stock.

Stakeholder Impact

• Shareholders: Increased insider ownership may signal stability and confidence, potentially influencing investor sentiment positively.
• Management: The reporting person, Erik M. Herzfeld, and his affiliated entities now hold a substantial stake, reinforcing their influence over the company's direction.

Key Dates

Keywords

Herzfeld Credit Income Fund, Erik M. Herzfeld, Schedule 13D, Beneficial Ownership, Common Stock, Investment Fund, Closed-End Fund, Insider Ownership