CUBA ticker fund jumps after Fidel Castro’s death
By
Tomi Kilgore, Marketwatch
Published
Nov. 28, 2016
Updated
March 31, 2017, 3:25 p.m. ET
Shares of the Herzfeld Caribbean Basin Fund Inc. CUBA soared 18 percent toward an eight-month high in active premarket trading on Monday following Fidel Castro’s death over the weekend.
Volume of about 167,000 shares ahead of the open was already six times the full-day average. The fund invests in issuers likely to benefit from economic and political progress in the Caribbean Basin, including Cuba.
“At such time as it becomes legally permissible for U.S. entities to invest directly in Cuba, the fund will consider such investments,” according to the fund’s prospectus. The fund’s holding as of June 30 included shares of Mastec Inc.