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CI Canadian Convertible Bond ETF Common (TSE:CXF) Trading Down 1.2% - Here's Why

CI Canadian Convertible Bond ETF Common logo with Manufacturing background

Key Points

  • CI Canadian Convertible Bond ETF (TSE:CXF) shares dropped by 1.2%, closing at C$10.62, with trading volume significantly down by 77% from the average.
  • The fund aims to provide investors with quarterly cash distributions and capital appreciation by investing in a portfolio of Convertible Bonds of Canadian issuers.
  • The stock is currently above its 50-day moving average of C$10.38 and its 200-day moving average of C$10.16, indicating some potential stability despite the recent decline.
  • MarketBeat previews top five stocks to own in November.

CI Canadian Convertible Bond ETF Common (TSE:CXF - Get Free Report) shares fell 1.2% during mid-day trading on Wednesday . The company traded as low as C$10.62 and last traded at C$10.62. 1,000 shares were traded during trading, a decline of 77% from the average session volume of 4,443 shares. The stock had previously closed at C$10.75.

CI Canadian Convertible Bond ETF Common Stock Performance

The business has a 50-day moving average price of C$10.40 and a 200-day moving average price of C$10.16.

CI Canadian Convertible Bond ETF Common Company Profile

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The investment objectives of First Asset Canadian Convertible Bond ETF are to provide holders with (i) quarterly cash distributions, and (ii) the opportunity for capital appreciation by investing on a capitalization weighted basis in a portfolio (the Convertible Portfolio) of Convertible Bonds of Canadian issuers.

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