The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Chairman Thomas J. Herzfeld Purchases 7,297 Shares

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Chairman Thomas J. Herzfeld acquired 7,297 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $2.65 per share, for a total transaction of $19,337.05. Following the purchase, the chairman now directly owns 1,564,310 shares of the company’s stock, valued at approximately $4,145,421.50. This trade represents a 0.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of NASDAQ:CUBA opened at $2.65 on Friday. The company has a fifty day simple moving average of $2.44 and a 200 day simple moving average of $2.40. The Herzfeld Caribbean Basin Fund Inc. has a 12-month low of $2.15 and a 12-month high of $2.66.

The Herzfeld Caribbean Basin Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were paid a $0.2325 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.93 annualized dividend and a dividend yield of 35.09%. This is a positive change from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

Several large investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter valued at approximately $54,000. Avantax Advisory Services Inc. bought a new stake in The Herzfeld Caribbean Basin Fund during the fourth quarter worth approximately $135,000. Quarry LP boosted its stake in The Herzfeld Caribbean Basin Fund by 21.0% in the 3rd 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. Bulldog Investors LLP boosted its stake in The Herzfeld Caribbean Basin Fund by 1,199.9% in the 4th quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock worth $649,000 after purchasing an additional 255,829 shares during the period. Finally, Absolute Investment Advisers LLC acquired a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter worth approximately $1,277,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

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.