Yakira Capital Management Inc. Decreases Position in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA)

Yakira Capital Management Inc. trimmed its holdings in shares of The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) by 60.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,949 shares of the investment management company’s stock after selling 63,174 shares during the quarter. Yakira Capital Management Inc.’s holdings in The Herzfeld Caribbean Basin Fund were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new stake in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter worth about $54,000. Avantax Advisory Services Inc. acquired a new stake in The Herzfeld Caribbean Basin Fund in the 4th quarter worth approximately $135,000. Finally, Absolute Investment Advisers LLC purchased a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter worth approximately $1,277,000. 15.74% of the stock is owned by institutional investors and hedge funds.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of The Herzfeld Caribbean Basin Fund stock opened at $2.45 on Friday. The Herzfeld Caribbean Basin Fund Inc. has a 12-month low of $2.15 and a 12-month high of $2.73. The firm’s 50 day simple moving average is $2.52 and its two-hundred day simple moving average is $2.44.

Insider Activity at The Herzfeld Caribbean Basin Fund

In other news, Director Brigitta Suzanne Herzfeld acquired 13,759 shares of The Herzfeld Caribbean Basin Fund stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $2.47 per share, for a total transaction of $33,984.73. Following the completion of the purchase, the director now directly owns 99,951 shares in the company, valued at $246,878.97. This trade represents a 15.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Portfolio Manager Ryan M. Paylor bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $2.69 per share, for a total transaction of $53,800.00. Following the transaction, the portfolio manager now owns 46,144 shares of the company’s stock, valued at $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 bought a total of 163,165 shares of company stock valued at $422,767 in the last ninety days. Company insiders own 28.80% of the company’s stock.

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.