Purpose High Interest Savings Fund (TSE:PSA) Sets New 1-Year Low - Here's What Happened

Key Points

• Purpose High Interest Savings Fund (TSE:PSA) hit a new 52-week low of C$50.00 on Friday with about 76,999 shares traded, after a prior close of C$50.09; its 50- and 200-day simple moving averages are both C$50.05.
• The fund increased its monthly dividend to C$0.0889 (up from C$0.08), implying an annualized yield of roughly 2.1%; the dividend is payable April 2, with an ex-dividend date of March 27 and record date of April 2.
• The ETF primarily invests in high-interest deposit accounts with chartered banks and credit unions to maximize monthly income while preserving capital and liquidity, holding diversified cash accounts and term deposits across Canadian institutions.

Purpose High Interest Savings Fund (TSE:PSA - ) hit a new 52-week low on Friday . The company traded as low as C$50.00 and last traded at C$50.00, with a volume of 76999 shares changing hands. The stock had previously closed at C$50.09.

Purpose High Interest Savings Fund Price Performance

The company has a 50 day simple moving average of C$50.05 and a 200-day simple moving average of C$50.05.

Purpose High Interest Savings Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be issued a $0.0889 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, March 27th. This is a positive change from Purpose High Interest Savings Fund's previous monthly dividend of $0.08.

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.

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