Yakira Capital Management Inc. Trims Holdings 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% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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. owned 0.59% of The Herzfeld Caribbean Basin Fund worth $98,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arete Wealth Advisors LLC bought a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter valued at about $54,000. Avantax Advisory Services Inc. purchased a new position in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter worth approximately $135,000. Finally, Absolute Investment Advisers LLC purchased a new position in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter worth approximately $1,277,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

The Herzfeld Caribbean Basin Fund Trading Down 3.5 %

Shares of NASDAQ CUBA opened at $2.45 on Friday. The stock has a 50 day moving average price of $2.52 and a 200 day moving average price of $2.44. The Herzfeld Caribbean Basin Fund Inc. has a 52-week low of $2.15 and a 52-week high of $2.73.

Insider Buying and Selling at The Herzfeld Caribbean Basin Fund

In other The Herzfeld Caribbean Basin Fund news, Chairman Thomas J. Herzfeld bought 16,420 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $2.47 per share, with a total value of $40,557.40. Following the transaction, the chairman now owns 1,539,115 shares of the company’s stock, valued at approximately $3,801,614.05. This trade represents a 1.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Erik Mervin Herzfeld purchased 95,999 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $2.60 per share, with a total value of $249,597.40. Following the transaction, the president now directly owns 584,930 shares in the company, valued at approximately $1,520,818. This trade represents a 19.63 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 163,165 shares of company stock valued at $422,767 in the last ninety days. Corporate insiders own 28.80% of the company’s stock.

The Herzfeld Caribbean Basin Fund 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.