Cuba Fund Jumps Most in Three Weeks After Report on Castro
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The Herzfeld Caribbean Basin Fund, a closed-end mutual fund that aims to profit from a resumption of U.S. trade with Cuba, surged the most in three weeks after a newspaper report that former President Fidel Castro’s health had deteriorated.
The $25 million fund jumped 3.7 percent to $6.65 today, the biggest advance since Aug. 11. Fuego Enterprises Inc., which intends to provide communications services in Cuba, led gains among the fund’s holdings, climbing 25 percent to 3 cents in over the counter trading. Popular Inc., Puerto Rico’s largest lender, rose 3.5 percent to $2.08 on the Nasdaq Stock Market.