The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 2,800 shares,  a drop of 63.2% from the November 30th total of 7,600 shares. Based on an average daily volume of 18,200 shares, the short-interest ratio is currently 0.2 days.

Insider Activity at The Herzfeld Caribbean Basin Fund

In related news, President Erik Mervin Herzfeld sold 33,365 shares of the firm's stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $4.98, for a total transaction of $166,157.70. Following the transaction, the president now directly owns 200,735 shares of the company's stock, valued at $999,660.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, In other The Herzfeld Caribbean Basin Fund news, Director Thomas J. Herzfeld sold 71,983 shares of The Herzfeld Caribbean Basin Fund stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $4.98, for a total value of $358,475.34. Following the sale, the director now owns 536,489 shares of the company's stock, valued at $2,671,715.22. The sale was disclosed in a legal filing with the SEC, Also, President Erik Mervin Herzfeld sold 33,365 shares of The Herzfeld Caribbean Basin Fund stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $4.98, for a total transaction of $166,157.70. Following the completion of the sale, the president now directly owns 200,735 shares in the company, valued at approximately $999,660.30. Insiders have sold 105,963 shares of company stock valued at $527,696 over the last ninety days. Corporate insiders own  9.41% of the company's stock.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

Several large investors have recently modified their holdings of the business. Thomas J. Herzfeld Advisors Inc. increased its stake in shares of  The Herzfeld Caribbean Basin Fund by 8.6% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 626,151 shares of the investment management company's stock worth $2,270,000 after purchasing an additional 49,689 shares in the last quarter.  CSS LLC IL grew its stake in  The Herzfeld Caribbean Basin Fund by 23.0% during the second quarter. CSS LLC IL now owns 114,951 shares of the investment management company's stock valued at $461,000 after acquiring an additional 21,485 shares in the last quarter.  Lincoln National Corp grew its stake in  The Herzfeld Caribbean Basin Fund by 24.3% during the third quarter. Lincoln National Corp now owns 41,943 shares of the investment management company's stock valued at $152,000 after acquiring an additional 8,204 shares in the last quarter.  Wolverine Asset Management LLC purchased a new position in  The Herzfeld Caribbean Basin Fund during the third quarter valued at approximately $145,000.  Finally, Cambridge Investment Research Advisors Inc. grew its stake in  The Herzfeld Caribbean Basin Fund by 26.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,201 shares of the investment management company's stock valued at $77,000 after acquiring an additional 4,437 shares in the last quarter. Hedge funds and other institutional investors own  13.64% of the company's stock.

The Herzfeld Caribbean Basin Fund Price Performance

Shares of CUBA traded up $0.07 during trading hours on Thursday, hitting $3.70. The company's stock had a trading volume of 8,060 shares, compared to its average volume of 24,567. The business has a 50 day simple moving average of $3.99 and a two-hundred day simple moving average of $4.09. The Herzfeld Caribbean Basin Fund has a 52-week low of $3.47 and a 52-week high of $5.84.

The Herzfeld Caribbean Basin Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, November 18th will be paid a $0.174 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.70 annualized dividend and a dividend yield of 18.84%.

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.