Shares of It Now PIBB IBrX-50 Fund ETF (BVMF:PIBB11) last traded at 150.85, representing a move of 3.11%, or 4.55 per share, on volume of 4,900 shares. After opening the trading day at 148.93, shares of It Now PIBB IBrX-50 Fund ETF traded in a close range. It Now PIBB IBrX-50 Fund ETF currently has a total float of shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 80.69 and high of 150.87.
Ibovespa: A Witness to Brazilian Economy’s Success
Unknown to the knowledge of many, Brazil is one of today’s fastest-growing economies and the reason behind it is a successfully emerging trade and commerce industry. Needless to say, it is a true pride of the South American economy. Brazil gives chances to a lot of big companies as It Now PIBB IBrX-50 Fund ETF to receive new clients.
Brazilian Mercantile and Futures (BM&F) Bovespa
The BM&F Bovespa is the main stock exchange in Brazil. Founded on August 23, 1890 as a public entity, it had long been under the strict supervision of the government. By the late 1960s, the government had loosened its grip on the BM&F Bovespa.
In 1972, electronic trading had finally been implemented to make things easier for brokers and investors alike. By the end of the decade, the Sistema Privado de Operacões por Telefone (SPOT) or the Private System of Telephone Trading, a telephone trading system, had been introduced.
The Mega Bolsa, an electronic trading system, had replaced the old one in 1997. Two years later, the Home Broker, an internet-based trading system that enabled individual investors to trade from home online, had been launched.
The BM&F Bovespa had finally been privatized as a profit entity in 2007. It officially became the BM&F Bovespa when the BM&F Exchange and the Bovespa had merged on May 8, 2008 to create a bigger and consolidated stock exchange in Brazil. It Now PIBB IBrX-50 Fund ETF became one of the active participants of the trading system.
On August 17, 2011, the BM&F Bovespa had recorded its largest daily trading volume of $14.80 billion. On June 18, 2012, it had become one of the founding members of the Sustainable Stock Exchange initiative of the United Nations (UN). As of December 2015, more than 450 companies are listed on the BM&F Bovespa.
Ibovespa Brasil Sao Paulo Stock Exchange Index
The Ibovespa is the benchmark index in Brazil that weighs the top 50 companies listed on the BM&F Bovespa as a market-capitalization-weighted index.
Consequently, it represents roughly 70% of the total market capitalization on the BM&F Bovespa. Founded in 1968, it is also the oldest index measuring BM&F Bovespa companies.
Rebalancing of the Ibovespa happens quarterly to ensure its efficient representation of the trade and commerce environment in Brazil. In order for a company to become eligible for inclusion as an Ibovespa component, it must have been listed and traded on the BM&F Bovespa for not less than a calendar year prior to a particular rebalancing period. Also, more than 80% of its shares must be traded on the BM&F Bovespa to guarantee compelling activity.
The Ibovespa uses a base value of 100 points, which has a base date of January 2, 1968.
The Ibovespa had hit its all-time low of 0 in January 1972. On May 20, 2008, it had hit its all-time high of 73,516 points, which was primarily driven by a positive inflation outlook that caused major industries to surge. Nine days later, the Ibovespa had an intraday high of 73,920 points.
Investors must take advantage of the growth of the South American economy by investing on BM&F Bovespa stocks, especially if they are looking for meaningful long-term returns. Investors turn their attention to the It Now PIBB IBrX-50 Fund ETF equities.
More news for It Now PIBB IBrX-50 Fund ETF (BVMF:PIBB11) were recently published by: Seekingalpha.com, which released: “Sector And Industry Analysis For Companies In The Brazilian Index IBrX 50 CNT.2 – Seeking Alpha” on September 25, 2018. Seekingalpha.com‘s article titled: “Current EWZ Returns Demonstrate That Optimism Is In The Air – Seeking Alpha” and published on October 05, 2018 is yet another important article.
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