The stock of First Asset US & Canada LifeCo Income FD (TSE:FLI) gapped up by $0.02 today and has $13.52 target or 7.00% above today’s $12.64 share price. The 7 months technical chart setup indicates low risk for the $119.47 million company. The gap was reported on Nov, 30 by Barchart.com. If the $13.52 price target is reached, the company will be worth $8.36 million 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 19,800 shares traded hands. First Asset US & Canada LifeCo Income FD (TSE:FLI) has risen 19.37% since April 28, 2016 and is uptrending. It has outperformed by 14.14% the S&P500.
Another recent and important First Asset US & Canada LifeCo Income FD (TSE:FLI) news was published by Theglobeandmail.com which published an article titled: “Eye on Shorts: What bearish investors are betting against” on February 04, 2015.
First Asset U.S. & Canada Lifeco Income ETF , formerly First Asset U.S. & Canada LifeCo Income Fund, is a Canada exchange traded fund. The company has a market cap of $119.47 million. The Fund’s investment objectives are to provide unitholders with quarterly cash distributions; the opportunity for capital appreciation, and lower overall volatility of portfolio returns than would be experienced by owning a portfolio of publicly traded common equity securities of the United States and Canadian life insurance companies by market capitalization directly. It currently has negative earnings. The Fund provides investors with a way to diversify their holdings within the financial sector, while also providing an opportunity to participate in the stock gains that life insurance companies are about to experience in a rising interest rate environment.
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