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 decrease in short interest in the month of February. As of February 28th, there was short interest totalling 31,800 shares, a decrease of 30.0% from the February 13th total of 45,400 shares. Based on an average daily volume of 117,300 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.6% of the company’s shares are sold short.

Insider Buying and Selling

In related news, President Erik Mervin Herzfeld bought 95,999 shares of the company’s stock in a transaction on Friday, March 7th. The shares were 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 of the company’s stock, valued at approximately $1,520,818. The trade was a 19.63 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brigitta Suzanne Herzfeld bought 13,759 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $2.47 per share, for a total transaction of $33,984.73. Following the completion of the purchase, the director now directly owns 99,951 shares in the company, valued at approximately $246,878.97. This represents a 15.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 138,883 shares of company stock valued at $357,597 in the last ninety days. 28.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

A number of hedge funds and other institutional investors have recently modified their holdings of CUBA. Absolute Investment Advisers LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter valued at approximately $1,277,000. Bulldog Investors LLP boosted its stake in 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 valued at $649,000 after acquiring an additional 255,829 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $135,000. Arete Wealth Advisors LLC acquired a new stake in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $54,000. Finally, Quarry LP boosted 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 valued at $285,000 after acquiring an additional 21,943 shares in the last quarter. 15.74% of the stock is currently owned by institutional investors.

The Herzfeld Caribbean Basin Fund Price Performance

CUBA stock remained flat at $2.65 during mid-day trading on Tuesday. 36,663 shares of the company’s stock were exchanged, compared to its average volume of 72,201. The business has a 50 day moving average of $2.45 and a 200 day moving average of $2.41. The Herzfeld Caribbean Basin Fund has a twelve month low of $2.15 and a twelve 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. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.2325 per share. The ex-dividend date was Tuesday, December 31st. This is an increase 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 35.09%.

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.