The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Sees Significant Decrease in Short Interest

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 28,700 shares, a decrease of 47.4% from the March 15th total of 54,600 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 143,000 shares, the short-interest ratio is currently 0.2 days.

Insider Buying and Selling at The Herzfeld Caribbean Basin Fund

In related news, Director Brigitta Suzanne Herzfeld bought 13,759 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $2.47 per share, with a total value of $33,984.73. Following the completion of the acquisition, the director now owns 99,951 shares in the company, valued at approximately $246,878.97. This trade represents a 15.96 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Erik Mervin Herzfeld purchased 95,999 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $2.60 per share, with a total value of $249,597.40. Following the purchase, the president now directly owns 584,930 shares of the company’s stock, valued at approximately $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. Insiders purchased 164,871 shares of company stock worth $426,862 over the last 90 days. Corporate insiders own 28.80% of the company’s stock.

Institutional Trading of The Herzfeld Caribbean Basin Fund

Hedge funds have recently modified their holdings of the business. Absolute Investment Advisers LLC purchased a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter worth $1,277,000. Bulldog Investors LLP grew its holdings in shares of 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 acquiring an additional 255,829 shares during the period. Avantax Advisory Services Inc. purchased a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at approximately $135,000. Finally, Arete Wealth Advisors LLC acquired a new position in The Herzfeld Caribbean Basin Fund during the fourth quarter worth $54,000. 15.74% of the stock is owned by institutional investors and hedge funds.

The Herzfeld Caribbean Basin Fund Stock Up 1.2 %

The Herzfeld Caribbean Basin Fund stock traded up $0.03 during trading hours on Wednesday, reaching $2.47. 5,898 shares of the stock were exchanged, compared to its average volume of 68,201. The Herzfeld Caribbean Basin Fund has a 52-week low of $2.15 and a 52-week high of $2.73. The firm’s 50 day moving average is $2.51 and its 200 day moving average is $2.45.

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.