Short Interest in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Declines By 47.4%

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

Insiders Place Their Bets

In other The Herzfeld Caribbean Basin Fund news, Director Brigitta Suzanne Herzfeld purchased 13,759 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $2.47 per share, with a total value of $33,984.73. Following the acquisition, the director now owns 99,951 shares of the company’s stock, valued at $246,878.97. The trade was a 15.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Portfolio Manager Ryan M. Paylor bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $2.69 per share, with a total value of $53,800.00. Following the completion of the purchase, the portfolio manager now 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 disclosure for this purchase can be found here. Insiders have acquired 164,871 shares of company stock valued at $426,862 over the last quarter. Insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CUBA. Arete Wealth Advisors LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the 4th quarter valued at about $54,000. Avantax Advisory Services Inc. purchased a new stake in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter worth about $135,000. Bulldog Investors LLP grew its stake 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 valued at $649,000 after buying an additional 255,829 shares in the last quarter. Finally, Absolute Investment Advisers LLC bought a new position in The Herzfeld Caribbean Basin Fund during the fourth quarter valued at approximately $1,277,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of The Herzfeld Caribbean Basin Fund stock traded down $0.03 during trading on Thursday, hitting $2.41. The stock had a trading volume of 16,313 shares, compared to its average volume of 68,074. The Herzfeld Caribbean Basin Fund has a 1 year low of $2.15 and a 1 year high of $2.73. The stock has a 50 day simple moving average of $2.51 and a 200 day simple moving average of $2.45.

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.