Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) Hits New 1-Year High – Here’s Why

Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) hit a new 52-week high during trading on Monday . The stock traded as high as C$51.00 and last traded at C$50.87, with a volume of 6092 shares trading hands. The stock had previously closed at C$50.88.

Hamilton Enhanced Canadian Bank ETF Price Performance

The stock has a 50 day simple moving average of C$46.43 and a two-hundred day simple moving average of C$40.93.

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.