iShares S&P/TSX 60 Index ETF (TSE:XIU) Hits New 12-Month High at $32.90

The iShares S&P TSX 60 Index ETF (TSEXIU) is a popular exchange-traded fund (ETF) that tracks the performance of the S&P TSX 60 Index, which represents the largest and most liquid companies listed on the Toronto Stock Exchange (TSX). The ETF is designed to provide investors with exposure to the Canadian stock market in a diversified and cost-effective way.

On August 17, 2021, TSEXIU hit a new 12-month high of $32.90 per share. This means that the ETF's price has increased by more than 10% since its low point in July 2020, reflecting strong demand from investors for exposure to the Canadian stock market.

The S&P TSX 60 Index is made up of 60 large-cap and mid-cap companies that are selected based on their liquidity, market capitalization, and other financial metrics. The index covers a wide range of sectors, including technology, healthcare, energy, and finance.

Investors in TSEXIU benefit from the diversification provided by the S&P TSX 60 Index, as well as the liquidity and lower costs associated with ETFs compared to traditional mutual funds. The ETF is also eligible for tax-advantaged retirement accounts, such as the Registered Retirement Savings Plan (RRSP) and the Tax-Free Savings Account (TFSA).

Overall, TSEXIU's new 12-month high at $32.90 per share reflects strong investor demand for exposure to the Canadian stock market and the diversification and cost-effectiveness provided by ETFs.