The stock of iShares S&P TSX Capped Energy Index Fund (TSE:XEG) hit a new 52-week high and has $15.64 target or 9.00% above today’s $14.35 share price. The 5 months bullish chart indicates low risk for the $1.14 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $15.64 price target is reached, the company will be worth $102.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 298,542 shares traded hands. iShares S&P TSX Capped Energy Index Fund (TSE:XEG) has risen 17.75% since April 27, 2016 and is uptrending. It has outperformed by 11.82% the S&P500.
More notable recent iShares S&P TSX Capped Energy Index Fund (TSE:XEG) news were published by: Fool.ca which released: “The Best ETF to Play Oil’s Continuing Volatility” on August 29, 2016, also Theglobeandmail.com with their article: “ETFs to ride the Canadian energy sector roller coaster” published on March 18, 2011, Marketwired.com published: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” on September 07, 2016. More interesting news about iShares S&P TSX Capped Energy Index Fund (TSE:XEG) were released by: Theglobeandmail.com and their article: “ETFs you should get to know – and those to avoid” published on August 24, 2012 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” with publication date: June 08, 2016.
iShares S&P/TSX Capped Energy Index Fund, formerly iShares CDN S&P/TSX Capped Energy Index Fund, seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Capped Energy Index through investments in the constituent issuers of such index. The company has a market cap of $1.14 billion. The Index consists of securities of Canadian energy sector issuers listed on the TSX, selected by Standard & Poor’s (S&P) using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals. It currently has negative earnings. The Index includes stocks belonging to the S&P/TSX Energy industry sector classification, with the weight of any one firm capped at 25% of the market capitalization of the Index.
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