New Commerce Split Fund (TSE:YCM – Get Free Report) was up 3.9% during mid-day trading on Wednesday . The stock traded as high as C$8.74 and last traded at C$8.74. Approximately 100 shares traded hands during trading, a decline of 90% from the average daily volume of 957 shares. The stock had previously closed at C$8.41.
New Commerce Split Fund Stock Up 3.9%
The company’s fifty day simple moving average is C$7.50 and its 200 day simple moving average is C$6.38. The firm has a market capitalization of C$7.84 million, a PE ratio of 6.15 and a beta of 2.81.
About New Commerce Split Fund
The Companys investment objectives with respect to the Class A Shares are (a) to provide holders of Class A Shares with regular monthly cash dividends targeted to be $0.05 per Class A Share to yield 6.0% per annum on the original issue price and (b) on or about the Termination Date, to pay the holders of Class A Shares at least the original issue price of the Class A Shares. In order to achieve its objectives, the Company will invest the net proceeds of the Offering in common shares of the Bank. To supplement the dividends or other distributions received on the common shares of the Bank held by the Company and to reduce risk, the Company may from time to time write covered call options in respect of some or all of such common shares.
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