Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) Hits New 12-Month High – Time to Buy?

Hamilton Enhanced Canadian Bank ETF (TSE:HCAL)’s share price hit a new 52-week high during trading on Friday . The company traded as high as C$38.65 and last traded at C$38.65, with a volume of 36656 shares. The stock had previously closed at C$38.18.

Hamilton Enhanced Canadian Bank ETF Trading Up 1.5%

The stock has a fifty day simple moving average of C$36.93 and a 200-day simple moving average of C$33.66.

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.