The Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) Shares Pass Below 200-Day Moving Average of $4.24

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBAGet Rating)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.24 and traded as low as $3.94. The Herzfeld Caribbean Basin Fund shares last traded at $4.05, with a volume of 45,942 shares trading hands.

The Herzfeld Caribbean Basin Fund Stock Up 1.6 %

The stock’s fifty day simple moving average is $3.98 and its 200-day simple moving average is $4.24.

The Herzfeld Caribbean Basin Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, November 18th will be paid a dividend of $0.174 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 17.19%. The ex-dividend date of this dividend is Thursday, November 17th.

Insider Activity

In other news, President Erik Mervin Herzfeld sold 33,365 shares of the company’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 completion of the transaction, the president now owns 200,735 shares of the company’s stock, valued at approximately $999,660.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Thomas J. Herzfeld sold 71,983 shares of the company’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 $358,475.34. Following the completion of the transaction, the director now owns 536,489 shares of the company’s stock, valued at approximately $2,671,715.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Erik Mervin Herzfeld sold 33,365 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $4.98, for a total transaction of $166,157.70. Following the sale, the president now directly owns 200,735 shares of the company’s stock, valued at approximately $999,660.30. The disclosure for this sale can be found here. Insiders sold a total of 105,963 shares of company stock valued at $527,696 in the last 90 days. 9.41% of the stock is currently owned by insiders.

Institutional Trading of The Herzfeld Caribbean Basin Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Thomas J. Herzfeld Advisors Inc. increased its position in The Herzfeld Caribbean Basin Fund by 8.6% during the 3rd 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. Wolverine Asset Management LLC acquired a new stake in The Herzfeld Caribbean Basin Fund during the 3rd quarter worth approximately $145,000. Lincoln National Corp grew its position in The Herzfeld Caribbean Basin Fund by 24.3% in 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. Cambridge Investment Research Advisors Inc. grew its position in The Herzfeld Caribbean Basin Fund by 26.5% in 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. Finally, CSS LLC IL grew its position in The Herzfeld Caribbean Basin Fund by 23.0% in 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. Institutional investors and hedge funds own 13.64% of the company’s stock.

About The Herzfeld Caribbean Basin Fund

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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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