On Monday, shares of the Herzfeld Caribbean Basin Fund (CUBA - Free Report) rallied 18% in pre-market trading (the fund has come down slightly, and is currently up around 11% to $7.02 as of 11:00 AM EST) as a result of Fidel Castro’s death over the weekend.
The fund’s pre-market volume of roughly 167,000 shares was already six times its normal full-day average.
CUBA invests in companies that are set to benefit from a more open Cuban and Caribbean Basin economic and political climate. Its holdings include Mastec Inc. (MTZ - Free Report) , Nextera Energy (NEE - Free Report) , Copa Holdings (CPA - Free Report) , Royal Caribbean (RCL - Free Report) , Carnival Corp. (CCL - Free Report) , and Norwegian Cruise (NCLH - Free Report) .
Cuban dictator Fidel Castro died on Friday at 90 years old, ruling Cuba for nearly half a century. The government in Havana announced nine days of national mourning in the wake of Castro’s passing.
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