Short Interest in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Rises By 71.7%

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 54,600 shares, a growth of 71.7% from the February 28th total of 31,800 shares. Based on an average daily trading volume, of 142,300 shares, the short-interest ratio is presently 0.4 days. Currently, 1.1% of the company’s stock are sold short.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of The Herzfeld Caribbean Basin Fund stock traded down $0.03 during midday trading on Friday, hitting $2.63. The company had a trading volume of 57,162 shares, compared to its average volume of 68,734. The company has a fifty day simple moving average of $2.50 and a 200 day simple moving average of $2.43. The Herzfeld Caribbean Basin Fund has a 12-month low of $2.15 and a 12-month high of $2.73.

Insider Activity

In other The Herzfeld Caribbean Basin Fund news, Chairman Thomas J. Herzfeld acquired 16,420 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $2.47 per share, for a total transaction of $40,557.40. Following the acquisition, the chairman now owns 1,539,115 shares in the company, valued at approximately $3,801,614.05. This trade represents a 1.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Erik Mervin Herzfeld bought 95,999 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $2.60 per share, for a total transaction of $249,597.40. Following the completion of the purchase, the president now owns 584,930 shares in the company, valued at $1,520,818. The trade was a 19.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 161,372 shares of company stock worth $418,109. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bulldog Investors LLP grew its holdings 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 valued at $649,000 after buying an additional 255,829 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter valued at about $54,000. Avantax Advisory Services Inc. acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at about $135,000. Absolute Investment Advisers LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at about $1,277,000. Finally, Quarry LP raised 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 last quarter. Hedge funds and other institutional investors 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.