Absolute Investment Advisers LLC Purchases New Stake in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA)

Absolute Investment Advisers LLC purchased a new stake in shares of The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 546,984 shares of the investment management company’s stock, valued at approximately $1,277,000. Absolute Investment Advisers LLC owned approximately 7.65% of The Herzfeld Caribbean Basin Fund at the end of the most recent quarter.

Separately, Quarry LP boosted its stake in shares of The Herzfeld Caribbean Basin Fund by 21.0% in the 3rd quarter. Quarry LP now owns 126,287 shares of the investment management company’s stock worth $285,000 after buying an additional 21,943 shares during the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of NASDAQ:CUBA opened at $2.48 on Monday. The company’s 50-day moving average is $2.44 and its 200 day moving average is $2.37. 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 Herzfeld Caribbean Basin Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were given a $0.2325 dividend. This is an increase from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14. This represents a $0.93 dividend on an annualized basis and a yield of 37.50%. The ex-dividend date was Tuesday, December 31st.

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.