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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a large decline in short interest during 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 currently 0.5 days.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of NASDAQ CUBA traded up $0.02 during mid-day trading on Friday, reaching $2.43. The company’s stock had a trading volume of 25,755 shares, compared to its average volume of 49,599. The stock has a 50-day moving average of $2.44 and a two-hundred day moving average of $2.38. The Herzfeld Caribbean Basin Fund has a 1-year low of $2.15 and a 1-year high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.2325 per share. This is a boost from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14. 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.

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arete Wealth Advisors LLC acquired a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $54,000. International Assets Investment Management LLC lifted its stake in shares of The Herzfeld Caribbean Basin Fund by 166.9% in the 3rd quarter. International Assets Investment Management LLC now owns 32,474 shares of the investment management company’s stock valued at $730,000 after purchasing an additional 20,308 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter worth $135,000. Quarry LP raised its holdings 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 buying an additional 21,943 shares during the period. Finally, Absolute Investment Advisers LLC purchased 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.