Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) Shares Up 1.2% – What’s Next?

Shares of Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) traded up 1.2% during mid-day trading on Wednesday. The company traded as high as C$50.69 and last traded at C$50.53. Approximately 29,050 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 65,869 shares. The stock had previously closed at C$49.92.

Hamilton Enhanced Canadian Bank ETF Stock Down 0.2%

The business has a 50 day simple moving average of C$48.62 and a 200-day simple moving average of C$44.88.

Hamilton Enhanced Canadian Bank ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, October 7th were issued a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 29th.

Hamilton Enhanced Canadian Bank ETF Company Profile

The investment objective of HCAL is to replicate, to the extent reasonably possible and before the deduction of fees and expenses, a multiple of the performance of a rules-based, variable-weight Canadian bank index. HCAL will seek to achieve its investment objective by borrowing cash to invest in and hold a proportionate share of, or a sampling of the constituent securities of, the Solactive Canadian Bank Mean Reversion Index in order to track approximately 1.25x the performance of such Index. As an alternative to, or in conjunction with investing in and holding the constituent securities, HCAL may also invest in other securities, including Other Funds (as defined herein) to obtain exposure to the constituent securities of the Index in a manner that is consistent with HCALs investment objective.