The stock of Horiz. Beta. S&P TSX Cp. Fin. Bear (ETF) (TSE:HFD) hit a new 52-week low and has $6.11 target or 14.00% below today’s $7.10 share price. The 7 months bearish chart indicates high risk for the $12.58M company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $6.11 price target is reached, the company will be worth $1.76M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 36,697 shares traded hands or 131.47% up from the average. Horiz. Beta. S&P TSX Cp. Fin. Bear (ETF) (TSE:HFD) has declined 23.13% since April 15, 2016 and is downtrending. It has underperformed by 26.99% the S&P500.
Horizons BetaPro S&P/TSX Capped Financials Bear Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavor to correspond to two times (200%) the daily performance of the S&P/TSX Capped Financials Index. The ETF has a market cap of $12.58 million. In order to achieve its objective, the total underlying notional value of these instruments and/or securities will typically not exceed two times the total assets of the ETF. It currently has negative earnings. Assets not invested in financial instruments or equity securities may be invested in debt instruments or money market instruments with a term not to exceed 365 days, or reverse repurchase agreements with a term not to exceed 30 days.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.