(ENCC) Global X Canadian Oil Gas - Ratings and Ratios

Horizons Canadian Oil and Gas Equity Covered Call ETF (TO:ENCC) is a Canadian exchange-traded fund managed by Horizons ETFs Management (Canada) Inc. The fund focuses on the Canadian energy sector, primarily investing in publicly traded equities of companies involved in crude oil and natural gas production. It employs a covered call strategy, generating income through option premiums while providing exposure to energy stocks across all market capitalizations. The ETF seeks to replicate the performance of the S&P/TSX Capped Energy Index and was established on April 11, 2011.

As of the latest data, the fund has an assets under management (AUM) of 494.39M CAD, indicating significant investor interest. Its average trading volume over 20 days is 109,730 shares, with a last price of 10.58. The ETFs short-term moving averages (SMA 20 and SMA 50) are slightly above its long-term SMA 200, suggesting a potential bullish trend. The average true range (ATR) of 0.15 reflects relatively low volatility in recent trading sessions.

3-Month Forecast: Based on the technical and fundamental data, ENCC is expected to maintain its upward trajectory in the short term. The funds SMA 20 and SMA 50 are trending above the SMA 200, signaling bullish momentum. With energy demand stabilizing and oil prices holding firm, the ETFs net asset value (NAV) is projected to increase by 2-4% over the next quarter. Trading volumes are anticipated to remain moderate, averaging around 100,000 shares per day, as investor sentiment remains neutral to positive.