Insider Buying: The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Portfolio Manager Purchases 20,000 Shares of Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Portfolio Manager Ryan M. Paylor bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $2.69 per share, for a total transaction of $53,800.00. Following the completion of the transaction, the portfolio manager now directly owns 46,144 shares of the company’s stock, valued at approximately $124,127.36. The trade was a 76.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

The Herzfeld Caribbean Basin Fund Stock Performance

NASDAQ:CUBA traded down $0.03 during trading hours on Wednesday, reaching $2.67. 37,155 shares of the company were exchanged, compared to its average volume of 71,417. The stock has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $2.42. The Herzfeld Caribbean Basin Fund Inc. has a 52-week low of $2.15 and a 52-week high of $2.73.

Institutional Trading of The Herzfeld Caribbean Basin Fund

A number of institutional investors and hedge funds have recently made changes to their positions in CUBA. Arete Wealth Advisors LLC acquired a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at $54,000. Avantax Advisory Services Inc. purchased a new position in shares of The Herzfeld Caribbean Basin Fund in the 4th quarter worth about $135,000. Quarry LP lifted 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 valued at $285,000 after purchasing an additional 21,943 shares in the last quarter. Bulldog Investors LLP grew its holdings 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 purchasing an additional 255,829 shares during the period. Finally, Absolute Investment Advisers LLC acquired a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter worth approximately $1,277,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

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.