TSX Market updates – September 2023
TSX is celebrating excellence in growth for TSX 30
The TSX30 is a prestigious flagship program of the TSX that acknowledges the 30 highest-achieving companies listed on the Toronto Stock Exchange (TSX). To qualify for this recognition, publicly traded entities are evaluated and ranked according to their share price performance, factoring in dividend adjustments, over a span of three years. This assessment takes into account historical share prices, which are adjusted to account for dividends and potential stock consolidations.
The companies included in the 2023 list achieved an average share price increase of 553%, contributing to the generation of more than $120 billion in added value.
Resilient in this list was oil and gas industry, which constitutes more than half of the list; list consisted of 27 companies headquartered in Canada; and the ongoing achievements of businesses transitioning from TSX Venture Exchange (TSXV) to TSX, with 12 companies featured on the list.
Toronto stock exchange has recently welcomed many ETFs. Below is the list of such and what we need to know more about it.
- TSX:QQQT – Evolve NASDAQ Technology index Fund
$19.90 – Oct 5, 7:30:00 AM
This was initiated on July 11 2023. This is Canada’s first NASDAQ 100 technology focused ETF. This ETF has more tech concentration, consisting of 37 companies which falls under “technology” on the Nasdaq-100 index.
- TSX Bond – Evolve Enhanced Yield Bond
$20.26 – Oct 4, 2023.
Bond aims to be an attractive investment for those looking for monthly income and long-term capital growth through an active covered call approach. It targets a 10% yield and 0% management fee until March 31,2024. Will focus its investments mainly on fixed income exchange-traded funds (ETFs).
- TSX:HPYT – Harvest Premium Yield Treasury ETF
$11.78 closing price on Oct 4, 2023.
It is a collection of ETFs that contain extended-term US Treasury bonds backed by the complete trust and financial support of the US government. It utilizes covered call writing of up to 100% to generate an elevated yield and optimize monthly cash inflow.Target yield is 15%, paid monthly. Management fee 0.45%
- TSX: HBND – Hamilton U.S. Bond Yield Maximizer ETF
Canada’s 1ˢᵗ Covered Call Bond ETF. Initial target yield is 10% +, distributed monthly. This ETF has exposure to trusted U.S. treasuries. In contrast to bonds, the income generated from covered call premiums is typically subject to capital gains tax treatment. The covered call approach is under the active management of Nick Piquard, who possesses more than 25 years of expertise in options trading.
New additions to TSX
- TSX:HTL – Hamilton Thorne Ltd.
$1.34 closing price on Oct 4, 2023.
HTL opened the TSX market on 21st September 2023 and celebrated the Company’s graduation from TSX Venture Exchange to Toronto Stock Exchange.
Hamilton Thorne holds a prominent position as a worldwide supplier of precision equipment, supplies, software, and services that contribute to cost reduction, enhanced productivity, improved outcomes, and the facilitation of innovations in Assisted Reproductive Technologies (ART), research, and the field of cell biology.
David Wolf, President and CEO of Hamilton Thorne Ltd., stated that since their initial public offering on the Venture Exchange, they have significantly grown Hamilton Thorne’s revenues, achieved consistent profitability, and transformed their company into a global supplier of virtually all products required in the In Vitro Fertilization (IVF) laboratory. Moving up to the TSX main board represents a significant achievement for their company, underscoring the dedication and hard work of their team and acknowledging the strength and sustainability of their business. The transition to the TSX is expected to increase their visibility, enhance their reputation, and potentially improve liquidity. This, in turn, will enable them to broaden their global investor base, expand their business, and continue creating long-term value for their shareholders.