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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