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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 86,000 shares, a growth of 107.7% from the December 31st total of 41,400 shares. Based on an average daily trading volume, of 40,700 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in The Herzfeld Caribbean Basin Fund by 166.9% in the 3rd quarter. International Assets Investment Management LLC now owns 32,474 shares of the investment management company’s stock valued at $730,000 after purchasing an additional 20,308 shares in the last quarter. Quarry LP raised its position in shares of The Herzfeld Caribbean Basin Fund by 21.0% in the third quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock valued at $285,000 after buying an additional 21,943 shares during the last quarter. Finally, Absolute Investment Advisers LLC purchased a new position in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter valued at approximately $1,277,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of The Herzfeld Caribbean Basin Fund stock traded up $0.03 on Wednesday, hitting $2.49. The company’s stock had a trading volume of 2,774 shares, compared to its average volume of 53,004. The Herzfeld Caribbean Basin Fund has a 52-week low of $2.15 and a 52-week high of $2.95. The firm has a fifty day moving average price of $2.43 and a 200-day moving average price of $2.37.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were issued a $0.2325 dividend. This represents a $0.93 annualized dividend and a dividend yield of 37.42%. 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.

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.