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

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

The Herzfeld Caribbean Basin Fund Stock Performance

The Herzfeld Caribbean Basin Fund stock traded down $0.03 during mid-day trading on Friday, hitting $2.41. 16,313 shares of the company’s stock were exchanged, compared to its average volume of 68,127. The company’s 50 day simple moving average is $2.51 and its 200-day simple moving average is $2.45. The Herzfeld Caribbean Basin Fund has a fifty-two week low of $2.15 and a fifty-two week high of $2.73.

Insider Buying and Selling at The Herzfeld Caribbean Basin Fund

In other news, Chairman Thomas J. Herzfeld bought 16,420 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $2.47 per share, for a total transaction of $40,557.40. Following the completion of the acquisition, the chairman now owns 1,539,115 shares in the company, valued at approximately $3,801,614.05. This trade represents a 1.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Portfolio Manager Ryan M. Paylor purchased 20,000 shares of The Herzfeld Caribbean Basin Fund stock in a transaction dated Monday, March 24th. The shares were purchased 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 owns 46,144 shares of the company’s stock, valued at approximately $124,127.36. This represents a 76.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 164,871 shares of company stock valued at $426,862. 28.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

Hedge funds have recently modified their holdings of the business. Arete Wealth Advisors LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the 4th quarter valued at approximately $54,000. Avantax Advisory Services Inc. bought a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $135,000. Bulldog Investors LLP boosted its holdings in shares of 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 valued at $649,000 after buying an additional 255,829 shares during the period. Finally, Absolute Investment Advisers LLC bought a new stake in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter worth $1,277,000. Institutional investors and hedge funds 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.