The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Portfolio Manager Ryan M. Paylor Buys 20,000 Shares of Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Portfolio Manager Ryan M. Paylor purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $2.69 per share, with a total value of $53,800.00. Following the acquisition, the portfolio manager now directly owns 46,144 shares of the company’s stock, valued at $124,127.36. This represents a 76.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

The Herzfeld Caribbean Basin Fund Stock Down 1.1 %

CUBA opened at $2.67 on Thursday. The Herzfeld Caribbean Basin Fund Inc. has a 1 year low of $2.15 and a 1 year high of $2.73. The firm’s fifty day moving average price is $2.49 and its two-hundred day moving average price is $2.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new stake in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at about $54,000. Avantax Advisory Services Inc. bought a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $135,000. Quarry LP increased its position 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 valued at $285,000 after acquiring an additional 21,943 shares during the last quarter. Bulldog Investors LLP lifted its holdings in 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 acquiring an additional 255,829 shares during the period. Finally, Absolute Investment Advisers LLC bought a new stake in The Herzfeld Caribbean Basin Fund during the fourth quarter worth $1,277,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

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.