At the moment there appears to be a small earthquake swarm in Katla volcano. Currently this is just a earthquake swarm. All the tremor plots are normal and show no signs of harmonic tremors and magma on the move. The largest earthquake in this earthquake swarm in inside Katla volcano caldera was a ML1.3 with the depth of 1.7 km according to reviewed data from Icelandic Met Office.
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© Icelandic Met Office
The ML1.3 earthquake as I did record it on my Heklubyggð geophone. Given the shape and how low period this earthquake is. I would say that it was created by magma pushing upwards in the crust inside Katla volcano caldera.
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© Creative Commons licence
The ML1.3 earthquake as I did record it on my Heklubyggð geophone. Given the shape and how low period this earthquake is. I would say that it was created by magma pushing upwards in the crust inside Katla volcano caldera.

At the moment (when this is written) it seems that this earthquake swarm is over. For the moment anyway. But it hard to know for sure if it resumes or something else starts in Katla volcano.

Update 1: A earthquake with the magnitude ML3.8 did happen in Katla volcano caldera at 02:02 UTC. Following this earthquake there have been many aftershocks. It is not yet clear if this means that Katla volcano is starting a eruption or not. But that should be clear in few hours if that is the case or not.
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© Creative Commons licence
The ML3.8 earthquake that happened at 02:02 UTC. This is by the automatic SIL system, so it's size can change.
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© Icelandic Met Office
The location of the ML3.8 earthquake in Katla volcano caldera and the following aftershocks.