Erik Mervin Herzfeld Buys 95,999 Shares of The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) President Erik Mervin Herzfeld acquired 95,999 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $2.60 per share, with a total value of $249,597.40. Following the acquisition, the president now owns 584,930 shares in the company, valued at $1,520,818. The trade was a 19.63 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

The Herzfeld Caribbean Basin Fund Price Performance

CUBA opened at $2.62 on Wednesday. The Herzfeld Caribbean Basin Fund Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $2.95. The stock has a fifty day moving average of $2.43 and a 200-day moving average of $2.40.

The Herzfeld Caribbean Basin Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.2325 per share. This represents a $0.93 dividend on an annualized basis and a dividend yield of 35.50%. This is a positive change from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, December 31st.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arete Wealth Advisors LLC acquired a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $54,000. Avantax Advisory Services Inc. acquired a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $135,000. Quarry LP increased its holdings in shares of The Herzfeld Caribbean Basin Fund by 21.0% during the third 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 in the last quarter. Bulldog Investors LLP increased its holdings in shares of 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 valued at $649,000 after acquiring an additional 255,829 shares in the last quarter. Finally, Absolute Investment Advisers LLC bought a new stake in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter valued at approximately $1,277,000. 15.74% of the stock is 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.