We have rebalanced the Nasdaq Inovestor Canadian Index based on our Stockpointer® Canada model portfolio. These trades are effective as of Friday, January 21 after market close. Here are the details of the trades:
Ins:
- Canadian Pacific Railway (CP) – Market Trend. Increase in the Industrial sector as shown by the Top 100 index, therefore, increasing our position in the portfolio. We chose the company because of its high SP score.
- Leon’s Furniture (LNF) – Market Trend. Increase in the Consumer Discretionary sector. We chose the company due to its high SP Score.
- Labrador Iron Ore Royalty Corporation (LIF) – Intra-sectorial transaction. In the top of its sector.
Outs:
- Winpak (WPK) – Market Trend. Decrease in the Material sector as shown by the Top 100 index, decreasing our position in the portfolio. The company had the lowerst SP score and EPI of this sector.
- CCL Industries (CCL.B) – Market Trend. Decrease in the Material sector. The company had the second lowest SP score, the lowest score was Canfor. We decided to sell CCL over Canfor because we think Canfor’s outlook is significantly better than CCL.B, an element that the SP does not consider.
- Kirkland Lake Gold (KL) – The company will merge with Agnico-Eagle (AEM) on March 31 2022. We sell the stock in anticipation of this merger. AEM is not in the top of its sector.
