Short Interest in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Expands By 107.7%

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the recipient of a large increase in short interest during the month of 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 daily volume of 40,700 shares, the days-to-cover ratio is currently 2.1 days.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of The Herzfeld Caribbean Basin Fund stock traded up $0.01 on Thursday, reaching $2.45. The stock had a trading volume of 17,452 shares, compared to its average volume of 62,665. The business’s 50-day moving average price is $2.44 and its two-hundred day moving average price is $2.36. The Herzfeld Caribbean Basin Fund has a fifty-two week low of $2.15 and a fifty-two week high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

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

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

A number of hedge funds have recently bought and sold shares of the company. Quarry LP increased its stake in shares of 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 worth $285,000 after purchasing an additional 21,943 shares during the period. International Assets Investment Management LLC grew its holdings 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 valued at $730,000 after buying an additional 20,308 shares during the last quarter. Logan Stone Capital LLC increased its position in The Herzfeld Caribbean Basin Fund by 5.6% in the 2nd quarter. Logan Stone Capital LLC now owns 161,429 shares of the investment management company’s stock worth $379,000 after buying an additional 8,595 shares during the period. Finally, Choreo LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund during the second quarter worth approximately $83,000. 15.74% of the stock is currently 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.