Horizons Exchange Traded Funds and AlphaPro Management have launched a new enhanced income financial exchange-traded fund (ETF). The Horizons AlphaPro Enhanced Income Financials ETF offers Canadian investors access to a covered call strategy on Canada’s largest financial sector stocks. The portfolio will provide its unit holders with exposure to the performance of an equally weighted portfolio of Canadian banking, finance and financial services companies and monthly distributions of dividend and call option income. JovInvestment Management is the investment advisor to the new fund. The enhanced income ETF will trade on the Toronto Stock Exchange.
Click here for the release from Canada Newswire.