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According to our seasonality strategy we sell our long positions and close our short positions for November, now that we enter into December. We have initiated a short position for this stock by selling its shares and now we buy back the shares we have sold, so we cover our short.
Executing on our passive investing strategy, which involves buying the top volume stocks from sectors that react positively to periods of high inflation. As most of the top volume companies are based in the US, we want geographical diversity whenever possible. This stock matches our criteria: it is within a sector that reacts favorably to periods of high inflation and the stock has high trading volume. We pick 5 stocks from each of the following sectors: Mining and metallurgy, Food, tobacco and farm products, Electric Utilities, Railroad & infrastructure and Construction & engineering.
Short position with this company is suitable with the investment strategy of the fund as it has been in bottom 20 performers among S&P500 companies during the past six months. This transaction facilitates reaching an investment portfolio with equal weights between holdings.
Closing position. As global events create uncertainty and increase volatility across the market. The corona virus will also “spread” to U.S stock markets meaning more bearish times.