Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) Stock Jumps 1% – Should You Buy?

Hamilton Enhanced Canadian Bank ETF (TSE:HCAL)’s stock price was up 1% during mid-day trading on Tuesday. The stock traded as high as C$48.20 and last traded at C$48.05. 29,521 shares were traded during mid-day trading, a decline of 56% from the average session volume of 66,939 shares. The stock had previously closed at C$47.59.

Hamilton Enhanced Canadian Bank ETF Stock Performance

The stock’s 50-day moving average is C$48.41 and its 200-day moving average is C$46.97.

Hamilton Enhanced Canadian Bank ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, October 7th were paid a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.4%. 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.