Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) Shares Down 0.1% – Here’s Why

Shares of Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) traded down 0.1% on Tuesday . The company traded as low as C$50.00 and last traded at C$50.07. 87,601 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 70,488 shares. The stock had previously closed at C$50.14.

Hamilton Enhanced Canadian Bank ETF Stock Down 0.1%

The company’s 50 day moving average price is C$48.84 and its two-hundred day moving average price is C$42.57.

About Hamilton Enhanced Canadian Bank ETF

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.