The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Short Interest Down 30.0% in February

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 31,800 shares, a decline of 30.0% from the February 13th total of 45,400 shares. Based on an average daily volume of 117,300 shares, the short-interest ratio is currently 0.3 days. Currently, 0.6% of the shares of the company are sold short.

Insider Activity

In other news, President Erik Mervin Herzfeld purchased 95,999 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $2.60 per share, for a total transaction of $249,597.40. Following the purchase, the president now directly owns 584,930 shares in the company, valued at $1,520,818. This trade represents a 19.63 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brigitta Suzanne Herzfeld acquired 13,759 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $2.47 per share, for a total transaction of $33,984.73. Following the purchase, the director now directly owns 99,951 shares in the company, valued at approximately $246,878.97. This trade represents a 15.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 138,883 shares of company stock valued at $357,597 over the last three months. Insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

A number of institutional investors and hedge funds have recently modified their holdings of CUBA. Arete Wealth Advisors LLC purchased a new position in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter valued at approximately $54,000. Avantax Advisory Services Inc. bought a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at $135,000. Quarry LP increased its stake in The Herzfeld Caribbean Basin Fund by 21.0% in the third quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock worth $285,000 after purchasing an additional 21,943 shares during the period. Bulldog Investors LLP lifted its position in shares of The Herzfeld Caribbean Basin Fund by 1,199.9% during the fourth quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock worth $649,000 after purchasing an additional 255,829 shares during the last quarter. Finally, Absolute Investment Advisers LLC purchased a new stake in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter valued at $1,277,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

The Herzfeld Caribbean Basin Fund Stock Performance

CUBA traded up $0.01 during midday trading on Monday, reaching $2.66. The company had a trading volume of 33,931 shares, compared to its average volume of 71,919. The business has a 50-day moving average of $2.45 and a two-hundred day moving average of $2.41. The Herzfeld Caribbean Basin Fund has a 1 year low of $2.15 and a 1 year high of $2.68.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were issued a $0.2325 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14. This represents a $0.93 dividend on an annualized basis and a dividend yield of 35.03%.

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.