Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) Stock Crosses Above 50-Day Moving Average of $6.59

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Herzfeld Caribbean Basin Fund, Inc. (NASDAQ:CUBA) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.59 and traded as high as $6.65. Herzfeld Caribbean Basin Fund shares last traded at $6.62, with a volume of 1,063 shares traded.

The company has a 50 day moving average of $6.60 and a 200-day moving average of $6.35.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be paid a dividend of $0.2846 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $1.14 annualized dividend and a yield of 16.94%.

Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its position in shares of Herzfeld Caribbean Basin Fund by 2,338.0% in the 2nd quarter. Wells Fargo & Company MN now owns 24,453 shares of the investment management company’s stock worth $155,000 after buying an additional 23,450 shares during the last quarter. Matisse Capital acquired a new position in shares of Herzfeld Caribbean Basin Fund in the 2nd quarter valued at about $176,000. Susquehanna International Group LLP boosted its holdings in shares of Herzfeld Caribbean Basin Fund by 48.8% in the 2nd quarter. Susquehanna International Group LLP now owns 76,876 shares of the investment management company’s stock valued at $488,000 after buying an additional 25,227 shares during the period. Shaker Financial Services LLC grew its position in shares of Herzfeld Caribbean Basin Fund by 21.8% during the 3rd quarter. Shaker Financial Services LLC now owns 177,744 shares of the investment management company’s stock valued at $1,130,000 after buying an additional 31,812 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. grew its position in shares of Herzfeld Caribbean Basin Fund by 4.2% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 464,028 shares of the investment management company’s stock valued at $2,949,000 after buying an additional 18,805 shares during the last quarter. 31.61% of the stock is currently owned by institutional investors.

About Herzfeld Caribbean Basin Fund (NASDAQ:CUBA)

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.

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