Yesterday (23-April-2014) an earthquake swarm took place on the Reykjanes Ridge (GVP link here). The largest earthquake had the magnitude of 3,4 with the depth of 9,3 km. Earthquake swarm started following the magnitude 3,4 earthquake. It lasted for a two hour period and some 28 earthquakes took place during that time. The largest earthquake was felt in nearby towns and in Reykjavík (location dependent).
The earthquake swarm on the Reykjanes ridge. Copyright of this image belongs to Icelandic Meteorological Office.
There is a possibility of more earthquake activity in this area during the next few days to weeks. Since activity in this place often starts slowly and builds up over an long period of time when it peaks and than drops off slowly, sometimes the drop off in earthquake activity is sharp. There are no signs that suggest this earthquake swarm was connected to magma movement in this volcano.