Insider Buying: The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Portfolio Manager Buys 20,000 Shares of Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Portfolio Manager Ryan M. Paylor bought 20,000 shares of the stock in a transaction on Monday, March 24th. The shares were acquired 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 directly owns 46,144 shares of the company’s stock, valued at approximately $124,127.36. The trade was a 76.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

The Herzfeld Caribbean Basin Fund Trading Down 1.2 %

CUBA opened at $2.63 on Friday. The stock has a 50-day moving average of $2.50 and a 200-day moving average of $2.43. The Herzfeld Caribbean Basin Fund Inc. has a 52-week low of $2.15 and a 52-week high of $2.73.

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP boosted its holdings 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 valued at $285,000 after purchasing an additional 21,943 shares during the period. Avantax Advisory Services Inc. acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at $135,000. Absolute Investment Advisers LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at $1,277,000. Bulldog Investors LLP lifted its position in 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 worth $649,000 after purchasing an additional 255,829 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new stake 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 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.