The Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) Share Price Passes Above 50 Day Moving Average – Here’s Why

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.46 and traded as high as $2.58. The Herzfeld Caribbean Basin Fund shares last traded at $2.57, with a volume of 153,274 shares.

The Herzfeld Caribbean Basin Fund Trading Up 2.0 %

The business’s 50-day moving average is $2.46 and its 200-day moving average is $2.36.

The Herzfeld Caribbean Basin Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.2325 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.93 dividend on an annualized basis and a dividend yield of 36.19%. This is a positive change from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Institutional Trading of The Herzfeld Caribbean Basin Fund

A number of hedge funds have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC raised its position in The Herzfeld Caribbean Basin Fund by 72.6% during the second quarter. Blue Bell Private Wealth Management LLC now owns 239,046 shares of the investment management company’s stock valued at $562,000 after acquiring an additional 100,581 shares in the last quarter. Choreo LLC acquired a new stake in shares of The Herzfeld Caribbean Basin Fund during the 2nd quarter worth approximately $83,000. Quarry LP increased its holdings 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 in the last quarter. International Assets Investment Management LLC lifted its stake in shares of The Herzfeld Caribbean Basin Fund by 166.9% in the 3rd quarter. International Assets Investment Management LLC now owns 32,474 shares of the investment management company’s stock valued at $730,000 after purchasing an additional 20,308 shares during the period. Finally, Logan Stone Capital LLC boosted its holdings 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 worth $379,000 after buying an additional 8,595 shares in 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.