Purpose High Interest Savings Fund (TSE:PSA) Sets New 1-Year Low – Here’s Why

Purpose High Interest Savings Fund (TSE:PSA) shares reached a new 52-week low during trading 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. The stock had previously closed at C$50.09.

Purpose High Interest Savings Fund Price Performance

The company 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 Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, November 3rd. Shareholders of record on Tuesday, November 3rd will be given a dividend of $0.0896 per share. This represents a $1.08 annualized dividend and a yield of 2.1%. This is a negative change from Purpose High Interest Savings Fund’s previous monthly dividend of $0.0956. The ex-dividend date of this dividend is Wednesday, October 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.