We have rebalanced the Nasdaq Inovestor Canadian Index based on our Stockpointer® Canada model portfolio. These trades are effective as of Friday, October 20 after market close.
Here are the details of the trades:
Ins:
1. Gildan Activewear Inc (GIL) – Market Trend. Increase in the Consumer Discretionary sector as shown by the Top 100 index, therefore, increasing our position in the portfolio.
2. iA Financial Corporation (IAG) – Market Trend. Increase in the Financial sector. It is the highest SP score in its sector.
Outs:
1. Parex Resources Ltd (PXT) – Market Trend. Decrease in the Energy sector as shown by the Top 100 index, therefore, decreasing our position in the portfolio.
2. Telus Corp. (T) – Market trend transaction. Decrease in the Telecommunication sector. It was the only telecommunication company in the portfolio.
Special distribution from Constellation Software
At the end of September, Constellation Software distributed rights to buy Constellation Software’s debenture debt. Those rights had minimal value, estimated at 0.2% of the total portfolio. As the amount of position in our portfolio is limited to 25, the decision was the usual for spin-offs: we sold the position.
