The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Short Interest Update

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 54,600 shares, a growth of 71.7% from the February 28th total of 31,800 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 142,300 shares, the short-interest ratio is currently 0.4 days.

Insider Activity

In related news, President Erik Mervin Herzfeld purchased 95,999 shares of The Herzfeld Caribbean Basin Fund stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $2.60 per share, for a total transaction of $249,597.40. Following the completion of the acquisition, the president now directly owns 584,930 shares of the company’s stock, valued at $1,520,818. This represents a 19.63 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 bought at an average price of $2.47 per share, for a total transaction of $33,984.73. Following the completion of the acquisition, the director now owns 99,951 shares of the company’s stock, valued at $246,878.97. This trade represents a 15.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 161,372 shares of company stock valued at $418,109 in the last quarter. Company insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

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

The Herzfeld Caribbean Basin Fund Trading Down 1.2 %

CUBA stock opened at $2.63 on Monday. The stock has a 50-day moving average price of $2.50 and a two-hundred day moving average price of $2.43. The Herzfeld Caribbean Basin Fund has a 1 year low of $2.15 and a 1 year high of $2.73.

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.