Logan Stone Capital LLC Reduces Position in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA)

Logan Stone Capital LLC cut its holdings in shares of The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) by 27.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,191 shares of the investment management company’s stock after selling 46,602 shares during the quarter. Logan Stone Capital LLC owned approximately 1.74% of The Herzfeld Caribbean Basin Fund worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Absolute Investment Advisers LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $1,277,000. Bulldog Investors LLP boosted its position in shares of The Herzfeld Caribbean Basin Fund by 1,199.9% in the fourth quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock valued at $649,000 after acquiring an additional 255,829 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $135,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $54,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

The Herzfeld Caribbean Basin Fund Stock Performance

CUBA stock opened at $2.53 on Monday. The firm has a 50 day moving average of $2.54 and a 200-day moving average of $2.47. The Herzfeld Caribbean Basin Fund Inc. has a 12 month low of $2.15 and a 12 month high of $2.73.

Insider Activity

In other news, Portfolio Manager Ryan M. Paylor acquired 20,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $2.69 per share, for a total transaction of $53,800.00. Following the completion of the transaction, the portfolio manager now owns 46,144 shares of the company’s stock, valued at $124,127.36. The trade was a 76.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Erik Mervin Herzfeld bought 95,999 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $2.60 per share, for a total transaction of $249,597.40. Following the completion of the purchase, the president now directly owns 584,930 shares of the company’s stock, valued at $1,520,818. This represents a 19.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 164,871 shares of company stock worth $426,862. 28.80% of the stock is owned by company insiders.

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.