Short Interest in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Expands By 108.3%

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 45,400 shares, an increase of 108.3% from the January 31st total of 21,800 shares. Based on an average daily volume of 44,600 shares, the days-to-cover ratio is presently 1.0 days.

The Herzfeld Caribbean Basin Fund Price Performance

NASDAQ CUBA opened at $2.33 on Friday. The business’s 50 day moving average price is $2.42 and its 200-day moving average price is $2.38. The Herzfeld Caribbean Basin Fund has a fifty-two week low of $2.15 and a fifty-two week high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were given a $0.2325 dividend. This represents a $0.93 annualized dividend and a yield of 39.91%. The ex-dividend date was Tuesday, December 31st. This is an increase from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

Hedge funds have recently bought and sold shares of the business. Absolute Investment Advisers LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter worth $1,277,000. Bulldog Investors LLP grew its position in shares of The Herzfeld Caribbean Basin Fund by 1,199.9% during the 4th quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock worth $649,000 after buying an additional 255,829 shares in the last quarter. Quarry LP grew its position 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. Avantax Advisory Services Inc. bought a new position in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter worth $135,000. Finally, International Assets Investment Management LLC grew its position 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. Institutional investors own 15.74% of the company’s stock.

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.