Short Interest in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Expands By 71.7%

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 54,600 shares, a growth of 71.7% from the February 28th total of 31,800 shares. Based on an average daily volume of 142,300 shares, the short-interest ratio is currently 0.4 days. Approximately 1.1% of the company’s stock are short sold.

The Herzfeld Caribbean Basin Fund Stock Performance

NASDAQ CUBA traded down $0.03 on Friday, reaching $2.63. The company’s stock had a trading volume of 57,162 shares, compared to its average volume of 68,734. The Herzfeld Caribbean Basin Fund has a 52 week low of $2.15 and a 52 week high of $2.73. The business has a 50-day moving average price of $2.50 and a 200 day moving average price of $2.43.

Insider Activity

In other news, Director Brigitta Suzanne Herzfeld purchased 13,759 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $2.47 per share, with a total value of $33,984.73. Following the purchase, the director now owns 99,951 shares in the company, valued at $246,878.97. This represents a 15.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Erik Mervin Herzfeld bought 95,999 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $2.60 per share, with a total value of $249,597.40. Following the completion of the transaction, the president now directly owns 584,930 shares of the company’s stock, valued at approximately $1,520,818. This represents a 19.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 161,372 shares of company stock worth $418,109 in the last 90 days. Company insiders own 28.80% of the company’s stock.

Institutional Trading of The Herzfeld Caribbean Basin Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in CUBA. Absolute Investment Advisers LLC bought a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at $1,277,000. Bulldog Investors LLP boosted its holdings in The Herzfeld Caribbean Basin Fund by 1,199.9% during the fourth 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 during the last quarter. Quarry LP raised its position in shares of 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 acquiring an additional 21,943 shares during the period. Avantax Advisory Services Inc. acquired a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter worth $135,000. Finally, Arete Wealth Advisors LLC bought a new stake in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at $54,000. 15.74% of the stock is currently 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.