Date: Dec 24, 2018
Shares of Sparton Resources Inc. (CVE:SRI) last traded at 0.045, representing a move of 12.5%, or 0.005 per share, on volume of 41,000 shares. After opening the trading day at 0.045, shares of Sparton Resources Inc. traded in a close range. Sparton Resources Inc. currently has a total float of 125.78M shares and on average sees 350,015 shares exchange hands each day. The stock now has a 52-week low of 0.04 and high of 0.12.
Facts About S&P/TSX Index
S&P/TSX is Canada’s leading market index that features stocks of the largest companies listed on the Toronto Stock Exchange. The index features stocks as measured by market-capitalization, and currently account for 70% of the total market capitalization of the TSX.
The S&P TSX came into being after replacing the TSE 300 Index that was initially used as a benchmark for the country’s stock market. The performance of the index is most of the time used by investors worldwide to gauge the health of the country’s equity market as well as overall economy.
Listing Requirements
Inclusion into the index requires a company to have its stock first listed on the TSX. The company must also be incorporated under Canadian laws. Given that the index is market-capitalization weighted, all stocks listed must weigh at least 0.05% of the index with a share price tag of not less than C$1 in the last three trading session of any given month. Sparton Resources Inc. complies with the rules for listing.
The index also plays close watch to a company’s liquidity prior to the listing of its stock. For a stock to be listed on the S&P TSX it must be liquid enough to support unusual volume changes as well as dollar movements. The measure also ensures that at no one point one stock dominates the movement of the entire index.
