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HGY

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--%
1d
1w
1m

Analysis and statistics

  • Open
    13.2604$
  • Previous Close
    13.3997$
  • 52 Week Change
    --
  • Day Range
    -0.14$
  • 52 Week High/Low
    --
  • Dividend Per Share
    --
  • Market cap
    --$
  • EPS
    --
  • Beta
    --
  • Volume
    --

About

HGY.TO represents the Horizons Gold Yield ETF, a Canadian-listed exchange-traded fund (ETF) managed by Horizons ETFs Management (Canada) Inc. This ETF seeks to provide a high level of income and modest capital appreciation by investing primarily in gold bullion and using a covered call option strategy. Specifically, it holds physical gold bullion and writes covered call options on a portion of its gold holdings to generate income from the premiums received. The goal is to enhance yield beyond what physical gold alone would provide, although this strategy also limits the potential for significant upside gains in a rising gold market.

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Factors

Global High Yield Bond Market: Performance of high-yield bonds globally impacts HGY.TO as it invests in these bonds.

Interest Rate Changes: Rising interest rates generally lower bond prices, affecting HGY.TO's value, while falling rates can increase prices.

Credit Spreads: Widening credit spreads (difference between high-yield and government bonds) indicate increased risk aversion, lowering HGY.TO's price.

Economic Growth: Strong economic growth typically improves corporate creditworthiness, benefiting high-yield bonds and HGY.TO.

Inflation: Higher inflation erodes the real value of fixed income, potentially decreasing demand for bonds and impacting HGY.TO.

Canadian Dollar Strength: A stronger Canadian dollar can reduce the value of USD-denominated bond holdings within HGY.TO when converted back to CAD.

Fund Management Strategy: The specific investment decisions of the fund manager influence HGY.TO's performance relative to its benchmark.

Supply and Demand: Basic market forces of supply and demand for HGY.TO units also affect its price.

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