What’s Ahead for BMO EQUAL WEIGHT UTILITIES INDEX ETF After Today’s Gap Up?

 What's Ahead for BMO EQUAL WEIGHT UTILITIES INDEX ETF After Today's Gap Up?

The stock of BMO EQUAL WEIGHT UTILITIES INDEX ETF (TSE:ZUT) gapped up by $0.06 today and has $24.60 target or 48.00% above today’s $16.62 share price. The 5 months technical chart setup indicates low risk for the $235.95M company. The gap was reported on Nov, 7 by Barchart.com. If the $24.60 price target is reached, the company will be worth $113.26 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 21,210 shares traded hands or 181.49% up from the average. BMO EQUAL WEIGHT UTILITIES INDEX ETF (TSE:ZUT) has risen 6.05% since April 1, 2016 and is uptrending. It has outperformed by 4.10% the S&P500.

More notable recent BMO EQUAL WEIGHT UTILITIES INDEX ETF (TSE:ZUT) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Index Changes to Three BMO ETFs” on May 19, 2016, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” published on July 19, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO EQUAL WEIGHT UTILITIES INDEX ETF (TSE:ZUT) were released by: Theglobeandmail.com and their article: “Monthly-pay dividend ETFs: Are you overexposed?” published on April 18, 2013 as well as Theglobeandmail.com‘s news article titled: “What investors should do about the Fed’s interest-rate conundrum” with publication date: August 21, 2016.

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