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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 14,200 shares, a decrease of 44.3% from the March 31st total of 25,500 shares. Based on an average daily trading volume, of 92,000 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

Several large investors have recently added to or reduced their stakes in CUBA. Blue Bell Private Wealth Management LLC lifted its position in The Herzfeld Caribbean Basin Fund by 701.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 102,595 shares of the investment management company’s stock worth $343,000 after buying an additional 89,798 shares during the period. Lincoln National Corp raised its holdings in shares of The Herzfeld Caribbean Basin Fund by 15.2% in the 3rd quarter. Lincoln National Corp now owns 44,115 shares of the investment management company’s stock worth $147,000 after purchasing an additional 5,807 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of The Herzfeld Caribbean Basin Fund in the 3rd quarter worth about $59,000. Wolverine Asset Management LLC raised its holdings in shares of The Herzfeld Caribbean Basin Fund by 269.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 106,884 shares of the investment management company’s stock worth $357,000 after purchasing an additional 77,981 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of The Herzfeld Caribbean Basin Fund by 2.6% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 484,488 shares of the investment management company’s stock worth $1,618,000 after purchasing an additional 12,431 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

The Herzfeld Caribbean Basin Fund Stock Performance

NASDAQ CUBA traded up $0.02 during trading hours on Friday, hitting $2.43. 43,309 shares of the company’s stock were exchanged, compared to its average volume of 83,806. The business’s 50 day moving average is $2.61 and its 200-day moving average is $2.67. The Herzfeld Caribbean Basin Fund has a 12-month low of $2.25 and a 12-month high of $4.14.

The Herzfeld Caribbean Basin Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, March 27th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, March 26th. This represents a $0.54 annualized dividend and a yield of 22.22%.

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.