Shares of Herzfeld Caribbean Basin Fund, Inc. (NASDAQ:CUBA) hit a new 52-week low during trading on Thursday . The stock traded as low as $5.08 and last traded at $5.38, with a volume of 200 shares. The stock had previously closed at $5.79.
The business also recently disclosed an annual dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This is an increase from Herzfeld Caribbean Basin Fund’s previous annual dividend of $0.12. This represents a dividend yield of 5.24%.
In related news, President Erik Mervin Herzfeld acquired 33,500 shares of the stock in a transaction dated Wednesday, October 24th. The stock was purchased at an average cost of $5.79 per share, with a total value of $193,965.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Herzfeld acquired 20,000 shares of the stock in a transaction dated Tuesday, October 23rd. The stock was bought at an average cost of $5.84 per share, with a total value of $116,800.00. The disclosure for this purchase can be found here. Corporate insiders own 7.87% of the company’s stock.
An institutional investor recently raised its position in Herzfeld Caribbean Basin Fund stock. Shaker Financial Services LLC raised its stake in Herzfeld Caribbean Basin Fund, Inc. (NASDAQ:CUBA) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,532 shares of the investment management company’s stock after purchasing an additional 14,500 shares during the quarter. Shaker Financial Services LLC owned 1.69% of Herzfeld Caribbean Basin Fund worth $683,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 34.72% of the company’s stock.
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Herzfeld Caribbean Basin Fund Company Profile (NASDAQ:CUBA)
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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