Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) Stock Price Down 1.6% – Should You Sell?

Hamilton Enhanced Canadian Bank ETF (TSE:HCAL) shares were down 1.6% during trading on Thursday . The company traded as low as C$36.04 and last traded at C$36.17. Approximately 78,359 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 62,536 shares. The stock had previously closed at C$36.74.

Hamilton Enhanced Canadian Bank ETF Stock Down 1.6%

The company has a fifty day moving average price of C$37.40 and a two-hundred day moving average price of C$34.81.

About Hamilton Enhanced Canadian Bank ETF

The investment objective of HCAL is to replicate, to the extent reasonably possible and before the deduction of fees and expenses, a multiple of the performance of a rules-based, variable-weight Canadian bank index. HCAL will seek to achieve its investment objective by borrowing cash to invest in and hold a proportionate share of, or a sampling of the constituent securities of, the Solactive Canadian Bank Mean Reversion Index in order to track approximately 1.25x the performance of such Index. As an alternative to, or in conjunction with investing in and holding the constituent securities, HCAL may also invest in other securities, including Other Funds (as defined herein) to obtain exposure to the constituent securities of the Index in a manner that is consistent with HCALs investment objective.