TORONTO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- (TSX: CBNK) Mulvihill Canadian Bank Enhanced Yield ETF (the “Fund”) announces results of operations for the six months ended June 30, 2023. Increase in net assets attributable to holders of Units amounted to $0.45 million or $0.05 per Unit. Net assets attributable to holders of Units as at June 30, 2023 were $64.87 million or $7.17 per Unit. Cash distributions of $0.35 per Unit were paid to unitholders during the period.

The Fund seeks to provide unitholders with long-term capital appreciation through exposure to a portfolio consisting primarily of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the “Banks”) and monthly cash distributions.

To accomplish its objectives, the Fund invests substantially all of its assets in common shares of the Banks. Modest leverage of 25 percent enhances the dividend yields of the underlying stocks and provides additional return potential. The Fund will also utilize option strategies to enhance the income generated by the portfolio and to reduce volatility. The Fund is also permitted to invest in public investment funds including exchange-traded funds and other Mulvihill Funds (provided there are no duplication of fees) that provide exposure to such securities.

The Fund’s investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc.   The Fund’s Units are listed on Toronto Stock Exchange under the symbols CBNK.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.mulvihill.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.