The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Short Interest Up 108.3% in February

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 45,400 shares, a growth of 108.3% from the January 31st total of 21,800 shares. Based on an average daily trading volume, of 44,600 shares, the days-to-cover ratio is currently 1.0 days.

The Herzfeld Caribbean Basin Fund Price Performance

CUBA remained flat at $2.33 during midday trading on Friday. The company’s stock had a trading volume of 26,638 shares, compared to its average volume of 39,845. The firm has a fifty day simple moving average of $2.42 and a two-hundred day simple moving average of $2.38. The Herzfeld Caribbean Basin Fund has a 12-month low of $2.15 and a 12-month high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were issued a $0.2325 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.93 dividend on an annualized basis and a yield of 39.91%. This is a positive change from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Institutional Trading of The Herzfeld Caribbean Basin Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC bought a new stake in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter worth $54,000. International Assets Investment Management LLC grew its stake in The Herzfeld Caribbean Basin Fund by 166.9% in the third quarter. International Assets Investment Management LLC now owns 32,474 shares of the investment management company’s stock valued at $730,000 after acquiring an additional 20,308 shares during the period. Avantax Advisory Services Inc. acquired a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at about $135,000. Quarry LP grew its stake in The Herzfeld Caribbean Basin Fund by 21.0% in the third quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock valued at $285,000 after acquiring an additional 21,943 shares during the period. Finally, Bulldog Investors LLP boosted 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 buying an additional 255,829 shares during the period. 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.