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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 86,000 shares, a growth of 107.7% from the December 31st 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 Trading Up 1.0 %

The Herzfeld Caribbean Basin Fund stock traded up $0.03 during midday trading on Wednesday, hitting $2.49. 2,774 shares of the company’s stock were exchanged, compared to its average volume of 53,004. The Herzfeld Caribbean Basin Fund has a 12-month low of $2.15 and a 12-month high of $2.95. The firm’s 50 day simple moving average is $2.43 and its 200 day simple moving average is $2.37.

The Herzfeld Caribbean Basin Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were given a $0.2325 dividend. This represents a $0.93 annualized dividend and a yield of 37.42%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost 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 have recently added to or reduced their stakes in CUBA. Absolute Investment Advisers LLC purchased a new position in The Herzfeld Caribbean Basin Fund during the fourth quarter worth about $1,277,000. Quarry LP raised its stake 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 worth $285,000 after buying an additional 21,943 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of The Herzfeld Caribbean Basin Fund by 166.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,474 shares of the investment management company’s stock worth $730,000 after buying an additional 20,308 shares in the last quarter. 15.74% of the stock is owned by institutional investors and hedge funds.

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.