Insider Buying: The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Director Acquires $33,984.73 in Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Director Brigitta Suzanne Herzfeld acquired 13,759 shares of The Herzfeld Caribbean Basin Fund stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $2.47 per share, for a total transaction of $33,984.73. Following the purchase, the director now directly owns 99,951 shares in the company, valued at $246,878.97. The trade was a 15.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The Herzfeld Caribbean Basin Fund Stock Up 0.4 %

Shares of CUBA opened at $2.62 on Friday. The Herzfeld Caribbean Basin Fund Inc. has a twelve month low of $2.15 and a twelve month high of $2.95. The firm’s 50 day moving average price is $2.42 and its two-hundred day moving average price is $2.39.

The Herzfeld Caribbean Basin Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were paid a $0.2325 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.93 dividend on an annualized basis and a yield of 35.50%. This is a positive change from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Absolute Investment Advisers LLC bought a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $1,277,000. Bulldog Investors LLP lifted its stake in The Herzfeld Caribbean Basin Fund by 1,199.9% in the fourth quarter. Bulldog Investors LLP now owns 277,149 shares of the investment management company’s stock valued at $649,000 after buying an additional 255,829 shares in the last quarter. Quarry LP boosted its stake in shares of The Herzfeld Caribbean Basin Fund by 21.0% in the third 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 period. Avantax Advisory Services Inc. bought a new stake in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $135,000. Finally, International Assets Investment Management LLC raised its position in The Herzfeld Caribbean Basin Fund by 166.9% during the third 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 in 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.