iShares S&P/TSX 60 Index ETF (TSE:XIU) Shares Up 1.1% – Here’s Why

Shares of iShares S&P/TSX 60 Index ETF (TSE:XIU) shot up 1.1% during trading on Wednesday . The company traded as high as C$49.77 and last traded at C$49.41. 7,410,311 shares changed hands during mid-day trading, an increase of 71% from the average session volume of 4,333,270 shares. The stock had previously closed at C$48.85.

iShares S&P/TSX 60 Index ETF Stock Up 1.1%

The stock has a 50-day moving average of C$48.31 and a 200 day moving average of C$46.90.

About iShares S&P/TSX 60 Index ETF

The investment objective of the Fund is to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX 60 Index , net of expenses. Under normal market conditions, the Fund will primarily invest in Canadian equity securities. The Index is a strategy index focused on dividend income. The Index is comprised of 60 of the largest by market capitalization and most liquid constituents of the S&P/TSX Composite Index. Sectors are intended to mirror sector weights of the S&P/TSX Composite Index To achieve its investment objective the Fund uses an indexing strategy.