Levin Capital Strategies L.P. Buys New Position in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA)

Levin Capital Strategies L.P. bought a new stake in The Herzfeld Caribbean Basin Fund Inc. (NASDAQ:CUBA) in the fourth quarter, Holdings Channel reports. The fund bought 50,000 shares of the investment management company’s stock, valued at approximately $139,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CUBA. International Assets Investment Management LLC bought a new position in The Herzfeld Caribbean Basin Fund in the 4th quarter valued at about $52,000. Landscape Capital Management L.L.C. bought a new position in shares of The Herzfeld Caribbean Basin Fund during the 3rd quarter valued at about $59,000. Lincoln National Corp boosted its position in shares of The Herzfeld Caribbean Basin Fund by 15.2% during the 3rd quarter. Lincoln National Corp now owns 44,115 shares of the investment management company’s stock valued at $147,000 after purchasing an additional 5,807 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of The Herzfeld Caribbean Basin Fund during the 3rd quarter valued at about $251,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in shares of The Herzfeld Caribbean Basin Fund by 701.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 102,595 shares of the investment management company’s stock valued at $343,000 after purchasing an additional 89,798 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

The Herzfeld Caribbean Basin Fund Stock Performance

Shares of NASDAQ:CUBA traded up $0.04 during trading hours on Friday, hitting $2.46. 25,223 shares of the company’s stock traded hands, compared to its average volume of 80,607. The Herzfeld Caribbean Basin Fund Inc. has a 52 week low of $2.25 and a 52 week high of $4.14. The company’s fifty day simple moving average is $2.59 and its two-hundred day simple moving average is $2.64.

The Herzfeld Caribbean Basin Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, March 27th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 21.95%. The ex-dividend date of this dividend is Tuesday, March 26th.

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.