iShares Global Agriculture Index ETF (COW.A) Is Yet to See Trading Action on Feb 15

February 15, 2018 - By Adrian Erickson

Shares of iShares Global Agriculture Index ETF (TSE:COW.A) closed at 39.11 yesterday. iShares Global Agriculture Index ETF currently has a total float of shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 34.31 and high of 40.78.

Canada: S&P/TSX Index

The S&P/TSX Composite Index is the headline index of equities listed on Canada’s Toronto Stock Exchange (TSX).Its components are market capitalization-weighted and together the constituents of the index account for 70% of TSX market capitalization.
The S&P/TSX Composite replaced the TSE 300 Index.

Inclusion in the index

The S&P/TSX Composite has eligibility criteria that among others require that a candidate stock for inclusion in the index must be listed on the TSX and the company behind the stock must be incorporated under Canadian laws.

Being a market capitalization weighted index, components of S&P/TSX Composite must weigh at least 0.05% of the index. Additionally, index candidate must have traded at a minimum average price of C$1 over in the last three months and maintained a price of at least C$1 in the last three trading days of the month immediately before the index is rebalanced. Still on market capitalization, the index is also float adjusted, whereby restricted stocks, such as those held by company insiders and stock that don’t trade frequently such as those held by the government and venture capitalists are excluded.

Liquidity of a stock is another important consideration for inclusion in The S&P/TSX Composite. Though measure is taken so that no single stock dominates the movement of the index, a security must be liquid enough in terms of volume traded and dollar value. As such, the number of transactions in a security must be at least 0.025% of all the sum of trading volume of eligible securities. iShares Global Agriculture Index ETF has relatively good liquidity.

The S&P/TSX Composite is the primary gauge of the performance of Canadian stocks, especially given its massive coverage of the country’s equity market. Besides being a benchmark, the S&P/TSX Composite is also an investible index.

The index has about 250 components representing a variety of sectors. Of the index’ sectors, Financials is the largest, accounting for 36% of the index. The second-largest sector in the index is Energy, representing 20% of the index. Canada has a booming energy sector backed by oil drilling, which explains the large position of Energy in S&P/TSX Composite. iShares Global Agriculture Index ETF is a stock traded on the Canadian exchange.

Besides Financials and Energy, Materials, Industrials and Consumer Discretionary make the top 5 sectors in the index.
The S&P/TSX Composite is regularly rebalanced to remove constituents that fall short of eligibility requirement and replace them with newly eligible ones.

Index performance

S&P/TSX Index hit its lowest level on record of 217.50 points in February 1950. But the index reached an all-time high of 15657.63 points in September 2014, backed by soaring gold and crude oil prices. Excitement in the Canadian energy and commodities sectors also provided a boost to the Financials sector, thus lifting the index to the record high.

After a lull, investors are jostling for Canadian stocks again amid hopes of a bright future for commodities where prices will continue to strengthen after a long period of soft prices. The move by OPEC members to cap oil output to stabilize oil prices is also boosting investor appetite in Canadian stocks. The stability of the Canadian economy and the strong corporate governance standards are other reasons Canadian stock market is heating up with an influx of domestic and foreign retail investors. Professional analysts might be interested how this will affect iShares Global Agriculture Index ETF.

More notable recent iShares Global Agriculture Index ETF (TSE:COW.A) news were published by: Seekingalpha.com which released: “Top 10 Asia Ex China And India Country ETFs” on July 31, 2012, also Bloomberg.com with their article: “Here Are the Stocks and ETF to Watch After Saudi Arrests” published on November 05, 2017, Wsj.com published: “Mining the Scarcity Boom” on April 15, 2011. More interesting news about iShares Global Agriculture Index ETF (TSE:COW.A) were released by: Gurufocus.com and their article: “A Giant Philippine Conglomerate” published on July 28, 2017 as well as Gurufocus.com‘s news article titled: “Dow Chemical Announces Quarterly Dividend” with publication date: May 15, 2017.

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