Purpose High Interest Savings Fund (TSE:PSA) Sets New 12-Month Low – Here’s Why

Purpose High Interest Savings Fund (TSE:PSA) reached a new 52-week low on Wednesday. The company traded as low as C$50.00 and last traded at C$50.00, with a volume of 42,127 shares traded. The stock had previously closed at C$50.09.

Purpose High Interest Savings Fund Stock Down 0.2%

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

Purpose High Interest Savings Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 3rd. Investors of record on Tuesday, November 3rd will be given a dividend of $0.0896 per share. The ex-dividend date is Wednesday, October 28th. This is a decrease from Purpose High Interest Savings Fund’s previous monthly dividend of $0.0956. This represents a $1.08 annualized dividend and a yield of 2.2%.

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.