The stock of iShares S&P 500 Index Fund CAD Hedged (TSE:XSP) gapped up by $0.01 today and has $26.16 target or 3.00% above today’s $25.40 share price. The 6 months technical chart setup indicates low risk for the $3.73 billion company. The gap was reported on Nov, 24 by Barchart.com. If the $26.16 price target is reached, the company will be worth $111.90M 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 20,853 shares traded hands or 6069.53% up from the average. iShares S&P 500 Index Fund CAD Hedged (TSE:XSP) has risen 5.05% since April 20, 2016 and is uptrending. It has underperformed by 0.36% the S&P500.
More notable recent iShares S&P 500 Index Fund CAD Hedged (TSE:XSP) news were published by: Fool.ca which released: “Trim Your iShares S&P/TSX 60 Index Fund: Buy This Global ETF With Proceeds” on September 09, 2016, also Fool.ca with their article: “3 Reasons Why Now Is the Time to Own the S&P 500” published on November 07, 2016, Theglobeandmail.com published: “US ETFs: Top picks for Canadian investors” on December 08, 2012. More interesting news about iShares S&P 500 Index Fund CAD Hedged (TSE:XSP) were released by: Marketwired.com and their article: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” published on June 08, 2016 as well as Marketwired.com‘s news article titled: “Blackrock Canada Announces Changes to Certain iShares Funds” with publication date: March 24, 2014.
iShares S&P 500 Index Fund (XSP) seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P 500 Hedged to Canadian Dollars Index, net of expenses. The company has a market cap of $3.73 billion. The Index is a market capitalization-weighted index of securities of 500 of the largest United States public issuers provided by S&P, hedged to Canadian dollars. It currently has negative earnings. XSP invests in sectors, including information technology, financials, health care, consumer staples, energy, consumer discretionary, industrials, utilities, materials and telecommunication services.
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