Purpose High Interest Savings Fund (TSE:PSA) Sets New 52-Week Low - Here's What Happened

Key Points

• Reached new 52-week low: Purpose High Interest Savings Fund (TSE:PSA) slid to C$50.00 mid-day (last C$50.01) on volume of 204,847 shares, about a 0.2% decline and trading near its 50- and 200-day moving averages of C$50.05.
• Dividend increased: The fund raised its monthly distribution to $0.0953 per share from $0.09, payable May 4 with an ex-dividend date of April 28, implying an annualized yield of roughly 2.3%.
• Fund strategy: PSA invests substantially all assets in high-interest deposit accounts and term deposits at Canadian banks and credit unions to maximize monthly income while preserving capital and liquidity.

Purpose High Interest Savings Fund (TSE:PSA - ) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$50.00 and last traded at C$50.01, with a volume of 204847 shares changing hands. The stock had previously closed at C$50.09.

Purpose High Interest Savings Fund Stock Down 0.2%

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

Purpose High Interest Savings Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, May 4th. Investors of record on Monday, May 4th will be issued a dividend of $0.0953 per share. This is a positive change from Purpose High Interest Savings Fund's previous monthly dividend of $0.09. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, April 28th.

About Purpose High Interest Savings Fund

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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