Purpose High Interest Savings Fund (TSE:PSA) Trading 0% Higher - Here's What Happened

Key Points

• Traded flat: Purpose High Interest Savings Fund (TSE:PSA) closed at C$50.08 on Friday with 61,281 shares traded, down about 48% from its average volume; the 50- and 200-day moving averages are both C$50.05.
• Dividend increase: The fund raised its monthly dividend to $0.0889 per share (paid April 2, ex-dividend March 27) from $0.08, implying an annualized yield of about 2.1%.
• Investment strategy: The ETF aims to maximize monthly income while preserving capital by investing substantially all assets in high-interest deposit accounts with Canadian banks and credit unions, diversified across multiple institutions.

Purpose High Interest Savings Fund (TSE:PSA - ) traded up 0% on Friday . The stock traded as high as C$50.08 and last traded at C$50.08. 61,281 shares traded hands during trading, a decline of 48% from the average session volume of 117,188 shares. The stock had previously closed at C$50.06.

Purpose High Interest Savings Fund Stock Performance

The firm has a 50 day moving average of C$50.05 and a two-hundred day moving average of C$50.05.

Purpose High Interest Savings Fund Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.0889 per share. The ex-dividend date of this dividend was Friday, March 27th. This is a positive change from Purpose High Interest Savings Fund's previous monthly dividend of $0.08. This represents a c) annualized dividend and a dividend yield of 2.1%.

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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