546,984 Shares in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Purchased by Absolute Investment Advisers LLC

Absolute Investment Advisers LLC bought a new stake in shares of The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 546,984 shares of the investment management company’s stock, valued at approximately $1,277,000. Absolute Investment Advisers LLC owned approximately 0.08% of The Herzfeld Caribbean Basin Fund as of its most recent SEC filing.

Separately, Quarry LP boosted its holdings 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 purchasing an additional 21,943 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

The Herzfeld Caribbean Basin Fund Stock Down 0.4 %

The Herzfeld Caribbean Basin Fund stock opened at $2.48 on Monday. The Herzfeld Caribbean Basin Fund Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $2.95. The firm’s fifty day moving average price is $2.44 and its 200-day moving average price is $2.37.

The Herzfeld Caribbean Basin Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were issued a $0.2325 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.93 annualized dividend and a dividend yield of 37.50%. This is a boost from The Herzfeld Caribbean Basin Fund’s previous quarterly dividend of $0.14.

The Herzfeld Caribbean Basin Fund 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.