The stock of HORIZONS BETAPRO S&P TSX 60 INVERSE ETF (TSE:HIX) hit a new 52-week low and has $6.38 target or 8.00% below today’s $6.93 share price. The 5 months bearish chart indicates high risk for the $22.18M company. The 1-year low was reported on Dec, 1 by Barchart.com. If the $6.38 price target is reached, the company will be worth $1.77M 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. The ETF last traded at $6.93 per share. It is up 11.15% since April 27, 2016 and is downtrending. It has underperformed by 17.08% the S&P500.
More important recent HORIZONS BETAPRO S&P TSX 60 INVERSE ETF (TSE:HIX) news were published by: Theglobeandmail.com which released: “Larry Berman: How to prepare for years of lower-than-average returns” on September 27, 2016, also Theglobeandmail.com published article titled: “ETFs you should get to know – and those to avoid”, Fool.ca published: “Here’s How to Invest in the S&P/TSX Composite â€” And Why You May Not Want To” on July 24, 2013. More interesting news about HORIZONS BETAPRO S&P TSX 60 INVERSE ETF (TSE:HIX) was released by: Theglobeandmail.com and their article: “Eye on Shorts: What bearish investors are betting against” with publication date: March 23, 2016.
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