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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 86,000 shares, an increase of 107.7% from the December 15th total of 41,400 shares. Based on an average trading volume of 40,700 shares, the short-interest ratio is presently 2.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in 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 worth $730,000 after acquiring an additional 20,308 shares in the last quarter. Choreo LLC purchased a new stake in shares of The Herzfeld Caribbean Basin Fund in the second quarter worth approximately $83,000. Quarry LP boosted its holdings 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 purchasing an additional 21,943 shares during the period. Finally, Logan Stone Capital LLC grew its position in The Herzfeld Caribbean Basin Fund by 5.6% during the second quarter. Logan Stone Capital LLC now owns 161,429 shares of the investment management company’s stock valued at $379,000 after purchasing an additional 8,595 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

The Herzfeld Caribbean Basin Fund Stock Up 0.2 %

Shares of CUBA stock traded up $0.01 during trading hours on Thursday, reaching $2.45. 17,452 shares of the stock traded hands, compared to its average volume of 62,665. The Herzfeld Caribbean Basin Fund has a 1-year low of $2.15 and a 1-year high of $2.95. The business has a fifty day moving average price of $2.44 and a 200 day moving average price of $2.36.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were issued a $0.2325 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.93 dividend on an annualized basis and a dividend yield of 38.04%. This is a positive change from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

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.