The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Sees Significant Growth in Short Interest

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 74,300 shares, an increase of 253.8% from the October 31st total of 21,000 shares. Based on an average daily volume of 42,600 shares, the days-to-cover ratio is presently 1.7 days.

The Herzfeld Caribbean Basin Fund Stock Performance

NASDAQ CUBA remained flat at $2.42 on Thursday. The company’s stock had a trading volume of 60,244 shares, compared to its average volume of 56,362. The firm’s 50-day simple moving average is $2.38 and its 200-day simple moving average is $2.35. The Herzfeld Caribbean Basin Fund has a 1-year low of $2.15 and a 1-year high of $2.98.

Institutional Trading of The Herzfeld Caribbean Basin Fund

A number of hedge funds have recently bought and sold shares of the company. Cowen AND Company LLC increased its position in The Herzfeld Caribbean Basin Fund by 5.0% during the second quarter. Cowen AND Company LLC now owns 97,976 shares of the investment management company’s stock valued at $230,000 after acquiring an additional 4,708 shares during the last quarter. Logan Stone Capital LLC increased its position in The Herzfeld Caribbean Basin Fund by 5.6% during the second quarter. Logan Stone Capital LLC now owns 161,429 shares of the investment management company’s stock valued at $379,000 after acquiring an additional 8,595 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in The Herzfeld Caribbean Basin Fund during the second quarter valued at $29,000. Emfo LLC purchased a new stake in The Herzfeld Caribbean Basin Fund during the second quarter valued at $51,000. Finally, Quarry LP increased its position in 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 during the last quarter. Hedge funds and other institutional investors 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.