The stock of PowerShares Canada Preferred Share Index ETF (TSE:PPS) hit a new 52-week high and has $33.75 target or 125.00% above today’s $15.00 share price. The 8 months bullish chart indicates low risk for the $149.74M company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $33.75 price target is reached, the company will be worth $187.18 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The ETF last traded at $15 per share. It is down 9.09% since March 29, 2016 and is uptrending. It has outperformed by 6.57% 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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