The stock of BMO Covered Call Utilities ETF (TSE:ZWU) gapped up by $0.01 today and has $25.23 target or 82.00% above today’s $13.86 share price. The 8 months technical chart setup indicates low risk for the $431.66M company. The gap was reported on Oct, 18 by Barchart.com. If the $25.23 price target is reached, the company will be worth $353.96 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 65,671 shares traded hands or 14.94% up from the average. BMO Covered Call Utilities ETF (TSE:ZWU) has risen 3.69% since March 11, 2016 and is uptrending. It has underperformed by 1.79% the S&P500.
More notable recent BMO Covered Call Utilities ETF (TSE:ZWU) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014, also Theglobeandmail.com with their article: “Larry Berman: A defensive tack for the late stages of market cycle” published on September 04, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on August 19, 2016. More interesting news about BMO Covered Call Utilities ETF (TSE:ZWU) were released by: Marketwired.com and their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015 as well as Fool.ca‘s news article titled: “The 5 Best Dividend ETFs for Investors” with publication date: September 11, 2013.
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