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 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. Based on an average daily volume of 142,300 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.1% of the shares of the company are sold short.

Insider Transactions at The Herzfeld Caribbean Basin Fund

In related news, Chairman Thomas J. Herzfeld bought 16,420 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $2.47 per share, with a total value of $40,557.40. Following the acquisition, the chairman now owns 1,539,115 shares in the company, valued at approximately $3,801,614.05. This represents a 1.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brigitta Suzanne Herzfeld purchased 13,759 shares of the 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 transaction, the director now directly owns 99,951 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have bought 161,372 shares of company stock valued at $418,109. 28.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bulldog Investors LLP raised its position in shares of 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 acquiring an additional 255,829 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter worth about $54,000. Avantax Advisory Services Inc. acquired a new position in The Herzfeld Caribbean Basin Fund during the 4th quarter valued at about $135,000. Absolute Investment Advisers LLC acquired a new stake in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter worth approximately $1,277,000. Finally, Quarry LP raised its stake in shares of The Herzfeld Caribbean Basin Fund by 21.0% during the third quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock worth $285,000 after buying an additional 21,943 shares during the last quarter. 15.74% of the stock is owned by institutional investors.

The Herzfeld Caribbean Basin Fund Trading Down 1.2 %

Shares of The Herzfeld Caribbean Basin Fund stock opened at $2.63 on Monday. The Herzfeld Caribbean Basin Fund has a 12-month low of $2.15 and a 12-month high of $2.73. The company has a 50-day simple moving average of $2.50 and a 200 day simple moving average of $2.43.

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.