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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 14,200 shares, a drop of 44.3% from the March 31st total of 25,500 shares. Based on an average daily volume of 92,000 shares, the days-to-cover ratio is currently 0.2 days.

The Herzfeld Caribbean Basin Fund Stock Up 0.8 %

Shares of CUBA stock traded up $0.02 during mid-day trading on Friday, hitting $2.43. 43,309 shares of the stock traded hands, compared to its average volume of 83,806. The Herzfeld Caribbean Basin Fund has a twelve month low of $2.25 and a twelve month high of $4.14. The company’s 50-day simple moving average is $2.61 and its 200-day simple moving average is $2.67.

The Herzfeld Caribbean Basin Fund Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, March 27th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 22.22%. The ex-dividend date is Tuesday, March 26th.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

Several hedge funds have recently modified their holdings of CUBA. Blue Bell Private Wealth Management LLC increased its position in shares of The Herzfeld Caribbean Basin Fund by 701.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 102,595 shares of the investment management company’s stock valued at $343,000 after purchasing an additional 89,798 shares during the period. Lincoln National Corp grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 15.2% in the 3rd quarter. Lincoln National Corp now owns 44,115 shares of the investment management company’s stock worth $147,000 after acquiring an additional 5,807 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the 3rd quarter worth $59,000. Wolverine Asset Management LLC grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 269.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 106,884 shares of the investment management company’s stock worth $357,000 after acquiring an additional 77,981 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 2.6% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 484,488 shares of the investment management company’s stock worth $1,618,000 after acquiring an additional 12,431 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors and hedge funds.

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.