The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Sees Significant Drop in Short Interest

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 21,800 shares, a decline of 49.1% from the January 15th total of 42,800 shares. Based on an average daily volume of 46,000 shares, the days-to-cover ratio is presently 0.5 days.

The Herzfeld Caribbean Basin Fund Trading Up 0.8 %

Shares of CUBA traded up $0.02 during midday trading on Friday, hitting $2.43. 25,755 shares of the stock were exchanged, compared to its average volume of 49,599. The stock has a fifty day simple moving average of $2.44 and a 200 day simple moving average of $2.38. The Herzfeld Caribbean Basin Fund has a 52-week low of $2.15 and a 52-week high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.2325 per share. This represents a $0.93 annualized dividend and a dividend yield of 38.27%. 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.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Arete Wealth Advisors LLC acquired a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter worth approximately $54,000. Avantax Advisory Services Inc. acquired a new position in The Herzfeld Caribbean Basin Fund during the 4th quarter worth $135,000. Quarry LP increased its holdings in The Herzfeld Caribbean Basin Fund by 21.0% during the 3rd 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. International Assets Investment Management LLC increased its holdings in 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 purchasing an additional 20,308 shares during the period. Finally, Absolute Investment Advisers LLC acquired a new stake in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at about $1,277,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

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.