Canadian stocks rallied off a two-week low on the Republican win, with TransCanada (NYSE: TRP) leading the charge. TransCanada has been waiting since 2008 for a U.S. decision on the pipeline that would transport crude from Alberta’s oil sands to Gulf Coast refineries. However, legislation has been held up by environmental groups.
Additionally, Linamar Corp. surged 12% after announcing better-than-expected earnings.
FCAN includes a 4.3% position in Linamar. EWC has a 2.6% position in TransCanada. ENY includes 5.7% in TransCanada.
Guggenheim Canadian Energy Income Fund
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Max Chen contributed to this article.