Saturday, July 30, 2016

Recent Buy

I had a cash position inside my TFSA, and decided to put the cash to work.  It is difficult to find opportunities on the Canadian markets.  The Canadian markets have a lot of energy companies, so I avoided any of these companies due to the low price of barrel of crude oil.

So, on July 27, I purchased 94 units of the HNY, which is the Horizon Natural Gas Yield ETF.  I have owned this ETF recently also.  My brokerage offers commission free ETFs.  So I made 2 trades to collect a total of 94 units at an average price of $15.848 for a total of $1490.07.  There is no commission charged for the buy transaction, but there are ECN fees of $0.33.

This is the Horizon Natural Gas Yield ETF.  The summary of the ETF, as per Yahoo Finance, is described below. 
      The investment seeks to achieve its investment objectives by gaining exposure to a portfolio of securities and other instruments that provide exposure to the price of natural gas futures contracts, or exchange traded funds that are directly or indirectly only exposed to natural gas and/or natural gas options, forwards and futures contracts on natural gas by entering into a forward purchase and sale agreement with the Bank Counter party pursuant to which it will gain exposure to the Natural Gas Portfolio. The Natural Gas Portfolio is comprised primarily of exchange-traded funds, which may or may not be managed by the Manager or its affiliates, that are directly, or indirectly, and only, exposed to natural gas or natural gas futures,and will include natural gas futures, financial swaps and total return swaps - Yahoo Finance
This ETF pays a monthly distribution and the amount of the distribution varies each and every month. July 27 is the ex-dividend date, so I will not receive the distribution payment in about 10 days time.

Disclosure: Long HNY

I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

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