The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) Sees Large Drop in Short Interest

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 34,300 shares, a decline of 53.8% from the November 15th total of 74,300 shares. Based on an average daily trading volume, of 44,600 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP raised its holdings 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 worth $285,000 after purchasing an additional 21,943 shares during the period. International Assets Investment Management LLC increased its position 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 buying an additional 20,308 shares during the last quarter. Logan Stone Capital LLC raised its stake in shares of The Herzfeld Caribbean Basin Fund by 5.6% in the second quarter. Logan Stone Capital LLC now owns 161,429 shares of the investment management company’s stock valued at $379,000 after buying an additional 8,595 shares during the period. Cowen AND Company LLC lifted its position in shares of The Herzfeld Caribbean Basin Fund by 5.0% during the 2nd quarter. Cowen AND Company LLC now owns 97,976 shares of the investment management company’s stock valued at $230,000 after buying an additional 4,708 shares during the last quarter. Finally, Choreo LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund during the 2nd quarter worth $83,000. 15.74% of the stock is owned by institutional investors.

The Herzfeld Caribbean Basin Fund Price Performance

CUBA traded up $0.01 during trading on Friday, hitting $2.47. 31,637 shares of the company traded hands, compared to its average volume of 55,077. The Herzfeld Caribbean Basin Fund has a one year low of $2.15 and a one year high of $2.98. The stock’s fifty day moving average is $2.43 and its 200 day moving average is $2.35.

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.