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 drop in short interest during the month of February. As of February 28th, there was short interest totalling 31,800 shares, a drop 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 presently 0.3 days. Currently, 0.6% of the shares of the company are sold short.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of CUBA stock remained flat at $2.65 during trading hours on Tuesday. 36,663 shares of the stock traded hands, compared to its average volume of 72,201. The business’s fifty day moving average is $2.45 and its two-hundred day moving average is $2.41. The Herzfeld Caribbean Basin Fund has a 52-week low of $2.15 and a 52-week 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. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.2325 per share. 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 yield of 35.09%.

Insider Buying and Selling

In related news, President Erik Mervin Herzfeld bought 95,999 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $2.60 per share, with a total value of $249,597.40. Following the completion of the purchase, the president now directly owns 584,930 shares of the company’s stock, valued at approximately $1,520,818. This trade represents a 19.63 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brigitta Suzanne Herzfeld acquired 13,759 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $2.47 per share, with a total value of $33,984.73. Following the purchase, the director now owns 99,951 shares in the company, valued at $246,878.97. This represents a 15.96 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 138,883 shares of company stock valued at $357,597 over the last 90 days. Insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

A number of hedge funds have recently added to or reduced their stakes in CUBA. Arete Wealth Advisors LLC purchased a new stake in shares of The Herzfeld Caribbean Basin Fund in the 4th quarter valued at approximately $54,000. Avantax Advisory Services Inc. purchased a new stake in shares of The Herzfeld Caribbean Basin Fund in the 4th quarter valued at approximately $135,000. Quarry LP increased its position 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 valued at $285,000 after purchasing an additional 21,943 shares during the last quarter. Bulldog Investors LLP increased its position in shares of The Herzfeld Caribbean Basin Fund by 1,199.9% in the 4th quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock valued at $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 in the 4th quarter valued at approximately $1,277,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

About The Herzfeld Caribbean Basin Fund

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.