What’s Propelling BMO Covered Call Utilities ETF to Increase So Much? The Stock Gaps Up Today

 What's Propelling BMO Covered Call Utilities ETF to Increase So Much? The Stock Gaps Up Today

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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