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

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the target of a significant growth in short interest during 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 days-to-cover ratio is presently 0.4 days. Currently, 1.1% of the shares of the stock are sold short.

The Herzfeld Caribbean Basin Fund Stock Down 1.2 %

Shares of CUBA traded down $0.03 during mid-day trading on Friday, hitting $2.63. 57,162 shares of the company’s stock were exchanged, compared to its average volume of 68,734. The Herzfeld Caribbean Basin Fund has a fifty-two week low of $2.15 and a fifty-two week high of $2.73. The stock’s 50-day moving average is $2.50 and its 200-day moving average is $2.43.

Insider Buying and Selling at The Herzfeld Caribbean Basin Fund

In related news, President Erik Mervin Herzfeld acquired 95,999 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price 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 in the company, valued at $1,520,818. This trade represents a 19.63 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brigitta Suzanne Herzfeld purchased 13,759 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $2.47 per share, for a total transaction of $33,984.73. Following the purchase, the director now owns 99,951 shares in the company, valued at approximately $246,878.97. The trade was a 15.96 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 161,372 shares of company stock worth $418,109 over the last 90 days. 28.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Absolute Investment Advisers LLC purchased a new stake in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter worth $1,277,000. Bulldog Investors LLP increased its position 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 purchasing an additional 255,829 shares during the last quarter. Quarry LP grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 21.0% during the 3rd quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock worth $285,000 after purchasing an additional 21,943 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at about $135,000. Finally, Arete Wealth Advisors LLC purchased a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at about $54,000. 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.