Short Interest in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Expands By 107.7%

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 86,000 shares, a growth of 107.7% from the December 15th total of 41,400 shares. Based on an average trading volume of 40,700 shares, the days-to-cover ratio is presently 2.1 days.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in shares of The Herzfeld Caribbean Basin Fund by 166.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,474 shares of the investment management company’s stock worth $730,000 after buying an additional 20,308 shares during the period. Choreo LLC bought a new stake in shares of The Herzfeld Caribbean Basin Fund during the second quarter worth approximately $83,000. Quarry LP boosted its holdings in shares of The Herzfeld Caribbean Basin Fund by 21.0% during the third quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock worth $285,000 after acquiring an additional 21,943 shares during the period. Finally, Logan Stone Capital LLC grew its position in shares of The Herzfeld Caribbean Basin Fund by 5.6% in the second quarter. Logan Stone Capital LLC now owns 161,429 shares of the investment management company’s stock valued at $379,000 after purchasing an additional 8,595 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors and hedge funds.

The Herzfeld Caribbean Basin Fund Price Performance

NASDAQ:CUBA traded up $0.04 on Tuesday, hitting $2.40. The company’s stock had a trading volume of 271,364 shares, compared to its average volume of 65,044. The Herzfeld Caribbean Basin Fund has a one year low of $2.15 and a one year high of $2.95. The stock has a fifty day moving average of $2.44 and a two-hundred day moving average of $2.36.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.2325 per share. This is an increase from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14. The ex-dividend date was Tuesday, December 31st. This represents a $0.93 annualized dividend and a yield of 38.75%.

The Herzfeld Caribbean Basin Fund Company Profile

The Herzfeld Caribbean Basin Fund Inc is a closed-ended equity mutual fund launched by Thomas J. Herzfeld Advisors, Inc The fund is managed by Herzfeld/Cuba. It invests in the public equity markets of the United States. The fund employing fundamental analysis investing in stocks of companies that are likely to benefit from economic, political, structural and technological developments in the countries in the Caribbean Basin, which consist of Cuba, Jamaica, Trinidad and Tobago, the Bahamas, the Dominican Republic, Barbados, Aruba, Haiti, the Netherlands Antilles, the Commonwealth of Puerto Rico, Mexico, Honduras, Guatemala, Belize, Costa Rica, Panama, Colombia and Venezuela.