The stock of BMO Covered Call Utilities ETF (TSE:ZWU) gapped up by $0.02 today and has $22.88 target or 70.00% above today’s $13.46 share price. The 5 months technical chart setup indicates low risk for the $440.49 million company. The gap was reported on Nov, 7 by Barchart.com. If the $22.88 price target is reached, the company will be worth $308.34M 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 34,194 shares traded hands. BMO Covered Call Utilities ETF (TSE:ZWU) has declined 0.60% since April 1, 2016 and is downtrending. It has underperformed by 2.55% 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, Theglobeandmail.com published: “Larry Berman: Why I’m buying dividend-rich ETFs right now” on October 31, 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 Cash Distributions for BMO Exchange Traded …” published on July 19, 2016 as well as Marketwired.com‘s news article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” with publication date: November 18, 2015.
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