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 target of a significant increase in short interest in 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 trading volume of 40,700 shares, the days-to-cover ratio is presently 2.1 days.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of NASDAQ:CUBA traded up $0.04 during midday trading on Tuesday, hitting $2.40. The stock had a trading volume of 271,364 shares, compared to its average volume of 65,044. The company’s 50-day moving average price is $2.44 and its 200-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 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. This represents a $0.93 dividend on an annualized basis and a dividend yield of 38.75%. The ex-dividend date was Tuesday, December 31st. This is an increase from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 valued at $730,000 after purchasing an additional 20,308 shares during the last quarter. Choreo LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund in the 2nd quarter valued at $83,000. 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 valued at $285,000 after acquiring an additional 21,943 shares in the last quarter. Finally, Logan Stone Capital LLC grew its position in The Herzfeld Caribbean Basin Fund by 5.6% during the 2nd quarter. Logan Stone Capital LLC now owns 161,429 shares of the investment management company’s stock worth $379,000 after acquiring an additional 8,595 shares during the last quarter. Institutional investors 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.