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

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

Purpose High Interest Savings Fund Trading Up 0.0%

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

Purpose High Interest Savings Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, May 4th. Stockholders of record on Monday, May 4th will be issued a dividend of $0.0953 per share. This is an increase from Purpose High Interest Savings Fund’s previous monthly dividend of $0.09. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend 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.