The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) President Erik Mervin Herzfeld Purchases 95,999 Shares

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) President Erik Mervin Herzfeld bought 95,999 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $2.60 per share, with a total value of $249,597.40. Following the completion of the purchase, the president now owns 584,930 shares of the company’s stock, valued at approximately $1,520,818. This trade represents a 19.63 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of NASDAQ:CUBA traded up $0.04 during midday trading on Tuesday, reaching $2.62. The company had a trading volume of 286,061 shares, compared to its average volume of 146,482. The business’s 50 day moving average price is $2.43 and its 200 day moving average price is $2.40. The Herzfeld Caribbean Basin Fund Inc. has a 1-year low of $2.15 and a 1-year high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

The company also recently disclosed 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 represents a $0.93 dividend on an annualized basis and a dividend yield of 35.50%. The ex-dividend date was Tuesday, December 31st. This is a boost from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Arete Wealth Advisors LLC acquired a new position in The Herzfeld Caribbean Basin Fund during the fourth quarter worth about $54,000. Avantax Advisory Services Inc. acquired a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at $135,000. Quarry LP boosted its holdings in shares of The Herzfeld Caribbean Basin Fund by 21.0% during the 3rd 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 in the last quarter. Bulldog Investors LLP increased 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 valued at $649,000 after purchasing an additional 255,829 shares in the last quarter. Finally, Absolute Investment Advisers LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter worth approximately $1,277,000. 15.74% of the stock is owned by institutional investors.

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.