Insider Buying: The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) President Buys 95,999 Shares of Stock

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) President Erik Mervin Herzfeld bought 95,999 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $2.60 per share, with a total value of $249,597.40. Following the acquisition, the president now directly owns 584,930 shares of the company’s stock, valued at approximately $1,520,818. The trade was a 19.63 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

The Herzfeld Caribbean Basin Fund Trading Down 0.4 %

CUBA stock opened at $2.62 on Friday. The company has a 50 day simple moving average of $2.43 and a 200 day simple moving average of $2.40. The Herzfeld Caribbean Basin Fund Inc. has a 1 year low of $2.15 and a 1 year high of $2.95.

The Herzfeld Caribbean Basin Fund Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CUBA. Arete Wealth Advisors LLC bought a new stake in The Herzfeld Caribbean Basin Fund during the 4th quarter worth $54,000. Avantax Advisory Services Inc. acquired a new stake in shares of The Herzfeld Caribbean Basin Fund during the fourth quarter valued at about $135,000. Quarry LP grew its holdings in shares of The Herzfeld Caribbean Basin Fund by 21.0% during the third 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 last quarter. Bulldog Investors LLP increased its stake in shares of 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 during the period. Finally, Absolute Investment Advisers LLC acquired a new position in shares of The Herzfeld Caribbean Basin Fund in the fourth quarter valued at approximately $1,277,000. 15.74% of the stock is currently owned by institutional investors.

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.