Herzfeld Caribbean Basin Fund, Inc. (NASDAQ:CUBA) Short Interest Down 35.9% in September

Herzfeld Caribbean Basin Fund, Inc. (NASDAQ:CUBA) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,500 shares, a drop of 35.9% from the September 15th total of 3,900 shares. Based on an average daily volume of 30,600 shares, the days-to-cover ratio is presently 0.1 days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lincoln National Corp lifted its stake in shares of Herzfeld Caribbean Basin Fund by 13.2% in the 2nd quarter. Lincoln National Corp now owns 40,669 shares of the investment management company’s stock valued at $150,000 after purchasing an additional 4,739 shares during the period. Matisse Capital lifted its stake in shares of Herzfeld Caribbean Basin Fund by 2.8% in the 2nd quarter. Matisse Capital now owns 121,019 shares of the investment management company’s stock valued at $448,000 after purchasing an additional 3,300 shares during the period. Finally, RiverNorth Capital Management LLC lifted its stake in shares of Herzfeld Caribbean Basin Fund by 46.0% in the 1st quarter. RiverNorth Capital Management LLC now owns 352,854 shares of the investment management company’s stock valued at $1,226,000 after purchasing an additional 111,164 shares during the period.

Shares of CUBA traded down $0.03 on Friday, reaching $3.81. The stock had a trading volume of 18,388 shares, compared to its average volume of 28,650. The company has a 50-day simple moving average of $3.76 and a 200-day simple moving average of $3.69. Herzfeld Caribbean Basin Fund has a 12-month low of $2.20 and a 12-month high of $7.15.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 18th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 16.27%. The ex-dividend date of this dividend was Thursday, September 17th.

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.

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