The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Chairman Acquires $19,337.05 in Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Chairman Thomas J. Herzfeld purchased 7,297 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $2.65 per share, for a total transaction of $19,337.05. Following the purchase, the chairman now directly owns 1,564,310 shares in the company, valued at approximately $4,145,421.50. The trade was a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of CUBA stock opened at $2.65 on Friday. The Herzfeld Caribbean Basin Fund Inc. has a one year low of $2.15 and a one year high of $2.66. The company’s fifty day moving average price is $2.45 and its 200-day moving average price is $2.40.

The Herzfeld Caribbean Basin Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.2325 per share. This represents a $0.93 annualized dividend and a dividend yield of 35.09%. This is an increase from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, December 31st.

Institutional Trading of The Herzfeld Caribbean Basin Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Arete Wealth Advisors LLC bought a new stake in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter valued at $54,000. Avantax Advisory Services Inc. bought a new stake in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter valued at $135,000. Quarry LP raised its position 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 valued at $285,000 after purchasing an additional 21,943 shares during the period. Bulldog Investors LLP raised 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 valued at $649,000 after purchasing an additional 255,829 shares during the period. Finally, Absolute Investment Advisers LLC bought a new stake in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter valued at $1,277,000. 15.74% of the stock is currently owned by institutional investors.

The Herzfeld Caribbean Basin Fund Company 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.