Further out than the volcano but given the swarm it has to be associated...?
"December 23, 2013 CANARY ISLANDS - The new earthquake swarm under the islands central-SE sector continues. So far, about 120 quakes of magnitudes above 1.8 including a handful of possibly felt ones (up to magnitudes 3.2) have occurred since yesterday morning. Preliminary GPS data suggest a new phase of uplift has started as well, which supports the idea that a new magma intrusion is occurring at the base of the upper crust beneath the volcanic island. A new earthquake swarm started under the island on December 22nd. The earthquakes are located at about 15 km depth under the southeastern central part of the island. IGN recorded more than 40 quakes with magnitudes up to 3.2 so far. Whether the earthquakes are related to new magmatic intrusions at depth is a unknown but a possible scenario."
Seismic unrest: new earthquake swarms reported at El Hierro Island
on google earth it looks like only half the caldera is above sea level