The stock of PowerShares Canada Preferred Share Index ETF (TSE:PPS) gapped up by $0.06 today and has $20.98 target or 44.00% above today’s $14.57 share price. The 6 months technical chart setup indicates low risk for the $144.84M company. The gap was reported on Nov, 1 by Barchart.com. If the $20.98 price target is reached, the company will be worth $63.73M 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 18,900 shares traded hands or 876.24% up from the average. PowerShares Canada Preferred Share Index ETF (TSE:PPS) has risen 5.14% since March 28, 2016 and is uptrending. It has outperformed by 2.13% the S&P500.
More notable recent PowerShares Canada Preferred Share Index ETF (TSE:PPS) news were published by: Theglobeandmail.com which released: “Lowly preferred shares an intriguing bet for the brave investor” on February 13, 2016, also Marketwatch.com with their article: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” published on August 19, 2016, Business.Financialpost.com published: “Preferred shares an attractive alternative to bonds, stocks” on October 29, 2012. More interesting news about PowerShares Canada Preferred Share Index ETF (TSE:PPS) were released by: Etftrends.com and their article: “Preferred Stock ETFs with High Yields” published on September 06, 2012 as well as Etftrends.com‘s news article titled: “Van Eck Launches Non-Financial Preferred Stock ETF” with publication date: July 18, 2012.
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