Trade Tracker: Jenny Harrington sells Anglo American

Summary

Jenny Harrington, CEO of Gilman Hill Asset Management, explains why she sold Anglo American from her international income strategy. She says the sale was portfolio management and not a call on metals, citing Anglo's dividend cut, sub-1% yield, failed BHP takeover, slow restructuring, and Teck Resources merger uncertainty. She also says she is looking at buying a basic materials ETF because it is breaking out and sees opportunities within materials.

• Jenny Harrington sold Anglo American from her international income strategy.
• Anglo American cut its dividend and its yield fell below 1%.
• She cited the failed BHP takeover, slow restructuring, and Teck Resources merger uncertainty.
• She said the sale is not a comment on metals.
• She is looking at buying a basic materials ETF that is breaking out.
• She sees opportunities within the materials space.
• The host noted her continued ownership in Freeport and Rio Tinto as a better expression of her positive materials view.