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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a large 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 trading volume of 117,300 shares, the short-interest ratio is currently 0.3 days. Approximately 0.6% of the company’s shares are short sold.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of CUBA stock traded up $0.01 during mid-day trading on Monday, reaching $2.66. 33,931 shares of the company’s stock traded hands, compared to its average volume of 71,919. The company’s 50-day moving average price is $2.45 and its 200-day moving average price is $2.41. The Herzfeld Caribbean Basin Fund has a 12 month low of $2.15 and a 12 month high of $2.68.

The Herzfeld Caribbean Basin Fund Increases Dividend

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

Insider Activity

In related news, Chairman Thomas J. Herzfeld acquired 16,420 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $2.47 per share, for a total transaction of $40,557.40. Following the completion of the acquisition, the chairman now directly owns 1,539,115 shares of the company’s stock, valued at approximately $3,801,614.05. This represents a 1.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Erik Mervin Herzfeld acquired 95,999 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $2.60 per share, for a total transaction of $249,597.40. Following the completion of the transaction, the president now owns 584,930 shares in the company, valued at approximately $1,520,818. This represents a 19.63 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 138,883 shares of company stock valued at $357,597. Insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP grew its stake in shares of The Herzfeld Caribbean Basin Fund by 21.0% in the 3rd quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock worth $285,000 after buying an additional 21,943 shares during the last quarter. Absolute Investment Advisers LLC purchased a new stake in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter worth $1,277,000. Bulldog Investors LLP grew its stake in shares of The Herzfeld Caribbean Basin Fund by 1,199.9% in the fourth quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock worth $649,000 after acquiring an additional 255,829 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter valued at about $54,000. Finally, Avantax Advisory Services Inc. bought a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at approximately $135,000. Institutional investors own 15.74% of the company’s stock.

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.