Purpose High Interest Savings Fund (TSE:PSA) Reaches New 1-Year Low – What’s Next?

Purpose High Interest Savings Fund (TSE:PSA) hit a new 52-week low on Wednesday . The stock traded as low as C$50.00 and last traded at C$50.01, with a volume of 78325 shares trading hands. The stock had previously closed at C$50.09.

Purpose High Interest Savings Fund Trading Down 0.2%

The company has a fifty day moving average of C$50.05 and a 200-day moving average of C$50.05.

Purpose High Interest Savings Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, August 5th will be issued a dividend of $0.0989 per share. This represents a c) annualized dividend and a yield of 2.4%. This is a boost from Purpose High Interest Savings Fund’s previous monthly dividend of $0.09. The ex-dividend date is Wednesday, July 29th.

Purpose High Interest Savings Fund Company Profile

Purpose High Interest Savings ETF (the Fund) seeks to maximize monthly income while preserving capital and liquidity by investing in high interest deposit accounts The Funds investment strategy is to invest substantially all of the assets of the Fund in high interest deposit accounts with one or more chartered banks and/or credit unions. During the period ended June 30, 2021 the portfolio was invested in cash accounts and term deposits diversified between seven Canadian financial institutions.