Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) on Focus After Trading At 52-Week Lows

 Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) on Focus After Trading At 52 Week Lows

The stock of Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) (TSE:HOD) hit a new 52-week low and has $9.13 target or 6.00% below today’s $9.71 share price. The 5 months bearish chart indicates high risk for the $45.50 million company. The 1-year low was reported on Dec, 1 by Barchart.com. If the $9.13 price target is reached, the company will be worth $2.73 million 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 3.06M shares traded hands or 45.02% up from the average. Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) (TSE:HOD) has declined 20.69% since April 27, 2016 and is downtrending. It has underperformed by 26.62% the S&P500.

Horizons BetaPro NYMEX Crude Oil Bear Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that correspond to two times (200%) the inverse (opposite) of the daily performance of the New York Mercantile Exchange (NYMEX) light sweet crude oil futures contract for the next delivery month. The ETF has a market cap of $45.50 million. The Fund is managed by BetaPro Management Inc. It currently has negative earnings. ProFund Advisors LLC is the portfolio manager of the Fund.

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