Mid Morning

A few months ago I wrote a couple of posts about some of the interesting (or odd) income trusts that trade in Canada.

Hydro funds comprise one segment of these vehicles like the Algonquin Power Income Fund which has symbol APF-UN in Canada and is traded in the US on the pinks with ticker AGQNF.

As you no doubt know the many of the foreign currencies are down a lot against the dollar in a very short time which has created some interesting effects in various places.

As you can see from the chart, Algonquin's Canada listing has drifted slightly higher in the last couple of weeks, maybe, but really no big move either way but the US listing is down a noticeable amount as the loonie, as measured by Rydex Canada Currency Shares (FXC) is down by almost 5% in the last that time.

While the loonie, and for that matter all the commodities, commodity currencies and gold, could obviously extend what has been an unusually fast decline it has created a discount of sorts for US based investors for certain things.

I'm not a buyer of Algonquin, I am interested in another one of these (not hydro), that I am not sure I am going to buy or not, and while I would not own more than one of these I know some folks really like to load up on them.