The Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) Stock Price Crosses Above Fifty Day Moving Average of $4.32

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBAGet Rating)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $4.32 and traded as high as $4.39. The Herzfeld Caribbean Basin Fund shares last traded at $4.38, with a volume of 7,907 shares trading hands.

The Herzfeld Caribbean Basin Fund Stock Performance

The firm has a 50-day moving average price of $4.32 and a 200-day moving average price of $4.62.

The Herzfeld Caribbean Basin Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, August 22nd will be issued a $0.174 dividend. This represents a $0.70 annualized dividend and a yield of 15.89%. The ex-dividend date is Friday, August 19th.

Institutional Investors Weigh In On The Herzfeld Caribbean Basin Fund

Several large investors have recently added to or reduced their stakes in CUBA. Thomas J. Herzfeld Advisors Inc. boosted its stake in The Herzfeld Caribbean Basin Fund by 14.1% in the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 576,462 shares of the investment management company’s stock worth $2,312,000 after purchasing an additional 71,308 shares during the period. CSS LLC IL boosted its stake in The Herzfeld Caribbean Basin Fund by 23.0% in the 2nd quarter. CSS LLC IL now owns 114,951 shares of the investment management company’s stock worth $461,000 after purchasing an additional 21,485 shares during the period. Lincoln National Corp boosted its stake in The Herzfeld Caribbean Basin Fund by 17.8% in the 2nd quarter. Lincoln National Corp now owns 33,739 shares of the investment management company’s stock worth $135,000 after purchasing an additional 5,098 shares during the period. Finally, Logan Stone Capital LLC bought a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter worth about $66,000. Hedge funds and other institutional investors own 13.64% of the company’s stock.

The Herzfeld Caribbean Basin Fund Company Profile

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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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