The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Shares Sold by Matisse Capital

Matisse Capital reduced its position in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 987,174 shares of the investment management company’s stock after selling 41,074 shares during the period. The Herzfeld Caribbean Basin Fund comprises approximately 1.2% of Matisse Capital’s holdings, making the stock its 25th biggest holding. Matisse Capital owned 13.80% of The Herzfeld Caribbean Basin Fund worth $2,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Absolute Investment Advisers LLC acquired a new position in The Herzfeld Caribbean Basin Fund in the fourth quarter valued at $1,277,000. Quarry LP raised 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. Finally, International Assets Investment Management LLC boosted its holdings in The Herzfeld Caribbean Basin Fund by 166.9% in the third 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 period. 15.74% of the stock is currently owned by institutional investors and hedge funds.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of CUBA opened at $2.46 on Tuesday. The Herzfeld Caribbean Basin Fund Inc. has a 12 month low of $2.15 and a 12 month high of $2.95. The stock has a fifty day moving average price of $2.44 and a 200 day moving average price of $2.37.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were given a $0.2325 dividend. This is a boost from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14. This represents a $0.93 annualized dividend and a yield of 37.80%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.