The stock of iShares S&P TSX Capped REIT Index Fund (TSE:XRE) gapped up by $0.02 today and has $23.33 target or 55.00% above today’s $15.05 share price. The 6 months technical chart setup indicates low risk for the $1.25B company. The gap was reported on Nov, 15 by Barchart.com. If the $23.33 price target is reached, the company will be worth $687.50M 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 241,856 shares traded hands. iShares S&P TSX Capped REIT Index Fund (TSE:XRE) has declined 4.92% since April 11, 2016 and is downtrending. It has underperformed by 8.85% the S&P500.
More notable recent iShares S&P TSX Capped REIT Index Fund (TSE:XRE) news were published by: Business.Financialpost.com which released: “Battle of the Canadian REIT ETFs” on October 21, 2011, also Theglobeandmail.com with their article: “The case for and against real estate ETFs” published on June 28, 2016, Fool.ca published: “5 ETFs to Start a College Grad’s Retirement Fund” on April 15, 2015. More interesting news about iShares S&P TSX Capped REIT Index Fund (TSE:XRE) were released by: Marketwired.com and their article: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” published on August 15, 2016 as well as Theglobeandmail.com‘s news article titled: “Top REIT picks from fund managers” with publication date: April 24, 2014.
iShares S&P/TSX Capped REIT Index Fund, formerly iShares CDN S&P/TSX Capped REIT Index Fund, seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Capped REIT Index through investments in the constituent issuers of such Index. The company has a market cap of $1.25 billion. The Index consists of securities of Canadian real estate investment trusts (REITs) listed on the Toronto Stock Exchange (TSX), selected by Standard & Poor’s (S&P) using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals. It currently has negative earnings.
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