Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 T.EIT.PR.A

Admit my mistakes

[CountryBoy69]

I have followed this one for quite sometime but only a week ago decided to pull the trigger, what a mistake. I sold an American based ETF as l thought the unrelentless Fed rate increases would punish it. Well l was wrong , that ETF has risen by over 4% while EIT has dropped about 3%. This despite both the US and Cdn markets rising of late. Highly disappointing and the yearly dividend doesn't remotely cover the recent 2 week loss. Live and learn , l will hold for the present and l expect to receive some negative feedback but l think l learn or hope l do from errors in judgement. This one is history as soon as reasonably possible. Like within days. Good luck Gord from Alberta as l see you love this one.

 

[1condor]

I was going to add a few days ago...but held off as this bugger just keeps on falling (even on good market days)..the manager of the fund has obviously done a mistep and weighted the ETF holdings in the wrong sectors of the market. I do expect this to gradually turn around however I have decided not to add to my position until it dips below12 bucks. 

[CountryBoy69]

Condor , late yesterday l followed through and took the hit and sold at 12.42. 1600 shares took a loss since l bought at 12.83 .You are right about EIT. The Sand P the Tse and the Dow go up this one of late goes down , if the indices go down so does EIT , go figure. Fortunately for me l deployed the balance of that trade in DBM at 6.53 average and am up 7 cents as of now. But ldid get the 10 cent

[1condor]

CountryBoy69...I agree something is off here. Not sure why we are seeing consistent down days on this ETF. I was thinking maybe bad luck they got into the financial trade just before the sector started to roll over. 

[itsnevertoolate]

It is a bit perplexing as to why this stock has dropped in value so rapidly...in fact out of the last 26 trading sessions, 19 of them it has closed in the red..with only 7 days being green....

[CountryBoy69]

Yes a big disappointment , it seems that Canoe has perhaps changed their investments and for now not for the good. Out of this one for now and will wait and see. Pls check your inbox as l sent you a PM.