iShares Canadian Financial Monthly Income ETF Common Class (TSE:FIE) Sets New 1-Year High - Still a Buy?

Key Points

• 52-week high: iShares Canadian Financial Monthly Income ETF (TSE:FIE) hit a new 52-week high intraday at C$10.52 and last traded at C$10.50 (up ~1.0%) with roughly 230,114 shares changing hands.
• FIE is trading above its key technicals — the 50-day SMA (C$9.96) and 200-day SMA (C$9.84) — suggesting recent positive momentum.
• Fund strategy: The ETF seeks total return via distributions and capital appreciation by investing mainly in Canadian financial-sector common and preferred shares, corporate bonds and income trust units, and may use borrowings.

Shares of iShares Canadian Financial Monthly Income ETF Common Class (TSE:FIE - ) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$10.52 and last traded at C$10.50, with a volume of 230114 shares changing hands. The stock had previously closed at C$10.40.

iShares Canadian Financial Monthly Income ETF Common Class Trading Up 1.0%

The firm's 50-day simple moving average is C$9.96 and its 200 day simple moving average is C$9.84.

iShares Canadian Financial Monthly Income ETF Common Class Company Profile

The investment objective of the Fund is to maximize total return for investors, consisting of distributions and capital appreciation. To achieve funds objective the investment strategy of the Fund is to invest its net assets, together with borrowings under its loan facility, in a portfolio consisting primarily of common shares, preferred shares, corporate bonds and income trust units of issuers in the Canadian financial sector.

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