The Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) Shares Pass Below Two Hundred Day Moving Average of $2.70

The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.70 and traded as low as $2.35. The Herzfeld Caribbean Basin Fund shares last traded at $2.37, with a volume of 51,701 shares traded.

The Herzfeld Caribbean Basin Fund Trading Up 0.4 %

The stock’s 50-day simple moving average is $2.63 and its 200 day simple moving average is $2.70.

The Herzfeld Caribbean Basin Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, March 27th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Tuesday, March 26th. This represents a $0.54 dividend on an annualized basis and a yield of 22.59%.

Hedge Funds Weigh In On The Herzfeld Caribbean Basin Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its position in shares of The Herzfeld Caribbean Basin Fund by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 22,267 shares of the investment management company’s stock valued at $83,000 after acquiring an additional 3,002 shares during the period. Clough Capital Partners L P boosted its position in shares of The Herzfeld Caribbean Basin Fund by 53.1% in the first quarter. Clough Capital Partners L P now owns 60,289 shares of the investment management company’s stock valued at $225,000 after acquiring an additional 20,900 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of The Herzfeld Caribbean Basin Fund in the first quarter valued at about $44,000. Blue Bell Private Wealth Management LLC boosted its position in shares of The Herzfeld Caribbean Basin Fund by 701.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 102,595 shares of the investment management company’s stock valued at $343,000 after acquiring an additional 89,798 shares during the period. Finally, Lincoln National Corp boosted its position in shares of The Herzfeld Caribbean Basin Fund by 15.2% in the third quarter. Lincoln National Corp now owns 44,115 shares of the investment management company’s stock valued at $147,000 after acquiring an additional 5,807 shares during the period. 15.74% of the stock is owned by institutional investors.

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.