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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 28,700 shares, a decrease of 47.4% from the March 15th total of 54,600 shares. Based on an average daily trading volume, of 143,000 shares, the short-interest ratio is presently 0.2 days. Approximately 0.6% of the shares of the company are short sold.

The Herzfeld Caribbean Basin Fund Stock Down 1.2 %

CUBA traded down $0.03 during midday trading on Thursday, reaching $2.41. 16,313 shares of the company’s stock were exchanged, compared to its average volume of 68,074. The Herzfeld Caribbean Basin Fund has a one year low of $2.15 and a one year high of $2.73. The business has a 50-day simple moving average of $2.51 and a two-hundred day simple moving average of $2.45.

Insider Buying and Selling

In other The Herzfeld Caribbean Basin Fund news, Director Brigitta Suzanne Herzfeld purchased 13,759 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $2.47 per share, for a total transaction of $33,984.73. Following the completion of the purchase, the director now directly owns 99,951 shares of the company’s stock, valued at approximately $246,878.97. This represents a 15.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Erik Mervin Herzfeld acquired 95,999 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $2.60 per share, with a total value of $249,597.40. Following the purchase, the president now owns 584,930 shares in the company, valued at approximately $1,520,818. This represents a 19.63 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 164,871 shares of company stock valued at $426,862. Company insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

A number of hedge funds have recently made changes to their positions in the company. Absolute Investment Advisers LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $1,277,000. Avantax Advisory Services Inc. acquired a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter valued at $135,000. Arete Wealth Advisors LLC bought a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at $54,000. Finally, Bulldog Investors LLP boosted its stake in The Herzfeld Caribbean Basin Fund by 1,199.9% in 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 in the last quarter. 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.