Short Interest in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Increases By 1,877.6%

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 318,400 shares, an increase of 1,877.6% from the February 29th total of 16,100 shares. Based on an average trading volume of 100,400 shares, the short-interest ratio is presently 3.2 days.

The Herzfeld Caribbean Basin Fund Price Performance

NASDAQ:CUBA opened at $2.58 on Thursday. The business’s fifty day moving average price is $2.67 and its 200 day moving average price is $2.80. The Herzfeld Caribbean Basin Fund has a 12 month low of $2.25 and a 12 month high of $4.14.

The Herzfeld Caribbean Basin Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, March 27th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 20.93%. The ex-dividend date is Tuesday, March 26th.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in CUBA. Blue Bell Private Wealth Management LLC grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 763.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 885,428 shares of the investment management company’s stock worth $2,461,000 after buying an additional 782,833 shares during the last quarter. Matisse Capital lifted its position in shares of The Herzfeld Caribbean Basin Fund by 374.0% during the 4th quarter. Matisse Capital now owns 899,494 shares of the investment management company’s stock valued at $2,501,000 after acquiring an additional 709,747 shares during the period. Cable Car Capital LLC acquired a new stake in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter valued at approximately $630,000. Wolverine Asset Management LLC lifted its position in shares of The Herzfeld Caribbean Basin Fund by 269.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 106,884 shares of the investment management company’s stock valued at $357,000 after acquiring an additional 77,981 shares during the period. Finally, Alpine Global Management LLC acquired a new stake in shares of The Herzfeld Caribbean Basin Fund during the 3rd quarter valued at approximately $251,000. 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.