Insider Buying: The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Director Acquires 13,759 Shares of Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Director Brigitta Suzanne Herzfeld acquired 13,759 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $2.47 per share, with a total value of $33,984.73. Following the completion of the acquisition, the director now directly owns 99,951 shares of the company’s stock, valued at $246,878.97. This trade represents a 15.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

The Herzfeld Caribbean Basin Fund Stock Up 0.4 %

Shares of CUBA opened at $2.62 on Friday. The firm’s fifty day simple moving average is $2.42 and its two-hundred day simple moving average is $2.39. The Herzfeld Caribbean Basin Fund Inc. has a 12 month low of $2.15 and a 12 month high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 35.50%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Hedge Funds Weigh In On 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 bought a new position in shares of The Herzfeld Caribbean Basin Fund during the 4th quarter worth about $54,000. Avantax Advisory Services Inc. purchased a new stake in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at about $135,000. Quarry LP increased its stake in 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 buying an additional 21,943 shares during the last quarter. Bulldog Investors LLP increased its stake 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 last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of The Herzfeld Caribbean Basin Fund by 166.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,474 shares of the investment management company’s stock worth $730,000 after purchasing an additional 20,308 shares during the last quarter. 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.