The Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) Stock Crosses Below Two Hundred Day Moving Average of $2.68

Shares of The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.68 and traded as low as $2.38. The Herzfeld Caribbean Basin Fund shares last traded at $2.41, with a volume of 50,267 shares traded.

The Herzfeld Caribbean Basin Fund Stock Performance

The company has a 50 day moving average price of $2.61 and a two-hundred day moving average price of $2.67.

The Herzfeld Caribbean Basin Fund Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Alpine Global Management LLC purchased a new stake in The Herzfeld Caribbean Basin Fund in the 3rd quarter valued at $251,000. Thomas J. Herzfeld Advisors Inc. grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 2.6% during 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. Landscape Capital Management L.L.C. purchased a new position in shares of The Herzfeld Caribbean Basin Fund during the 3rd quarter worth $59,000. Lincoln National Corp grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 15.2% during 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. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 763.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 885,428 shares of the investment management company’s stock worth $2,461,000 after purchasing an additional 782,833 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

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.