The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) President Buys $249,597.40 in Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) President Erik Mervin Herzfeld purchased 95,999 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired 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 owns 584,930 shares of the company’s stock, valued at $1,520,818. This represents a 19.63 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of NASDAQ:CUBA opened at $2.62 on Friday. The business’s 50 day simple moving average is $2.43 and its 200 day simple moving average is $2.40. The Herzfeld Caribbean Basin Fund Inc. has a 1 year low of $2.15 and a 1 year high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arete Wealth Advisors LLC acquired a new stake in The Herzfeld Caribbean Basin Fund during the fourth quarter worth about $54,000. Avantax Advisory Services Inc. acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the 4th quarter valued at approximately $135,000. Quarry LP lifted 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 acquiring an additional 21,943 shares during the period. Bulldog Investors LLP boosted its position in shares of The Herzfeld Caribbean Basin Fund by 1,199.9% during the 4th quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock worth $649,000 after acquiring an additional 255,829 shares in the last quarter. Finally, Absolute Investment Advisers LLC bought a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $1,277,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

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.