The stock of iShares S&P TSX Global Gold Index Fund (TSE:XGD) gapped up by $0.07 today and has $12.16 target or 3.00% above today’s $11.81 share price. The 8 months technical chart setup indicates low risk for the $618.40M company. The gap was reported on Nov, 25 by Barchart.com. If the $12.16 price target is reached, the company will be worth $18.55M 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 232,931 shares traded hands. iShares S&P TSX Global Gold Index Fund (TSE:XGD) has declined 10.32% since April 21, 2016 and is downtrending. It has underperformed by 15.72% the S&P500.
More notable recent iShares S&P TSX Global Gold Index Fund (TSE:XGD) news were published by: Theglobeandmail.com which released: “Five ETFs to choose from as gold stocks finally come alive” on July 17, 2013, also Marketwired.com with their article: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” published on June 08, 2016, Theglobeandmail.com published: “ETFs to consider as gold’s season of strength gets underway” on July 25, 2014. More interesting news about iShares S&P TSX Global Gold Index Fund (TSE:XGD) were released by: Marketwired.com and their article: “BlackRock® Canada Announces March Cash Distributions for the iShares® ETFs” published on March 09, 2016 as well as Theglobeandmail.com‘s news article titled: “Buy gold now: Five ETFs to consider” with publication date: July 17, 2012.
iShares S&P/TSX Global Gold Index Fund seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Global Gold Index through investments in the constituent issuers of such index, net of expenses. The company has a market cap of $618.40 million. The Index is comprised of securities of global gold sector issuers selected by Standard & Poor’s using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals. It currently has negative earnings. The S&P/TSX Global Gold Index is defined using Global Industry Classification Standard (GICS) sector classification.
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