BMO Covered Call Utilities ETF (TSE:ZWU) Sets New 1-Year High – Time to Buy?

BMO Covered Call Utilities ETF (TSE:ZWU) reached a new 52-week high on Wednesday . The stock traded as high as C$11.66 and last traded at C$11.66, with a volume of 203570 shares changing hands. The stock had previously closed at C$11.59.

BMO Covered Call Utilities ETF Price Performance

The firm’s fifty day moving average is C$11.15 and its 200-day moving average is C$11.29.

BMO Covered Call Utilities ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Tuesday, December 2nd were given a dividend of $0.07 per share. This represents a c) annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend was Wednesday, November 26th.

BMO Covered Call Utilities ETF Company Profile

The ETF seeks to provide exposure to the performance of a portfolio of utilities companies to generate income and to provide long-term capital appreciation. To achieve investment objective the ETF will primarily invest in and hold the equity securities of Canadian companies widely recognized as utilities companies, which may also include telecommunication and pipeline companies, and use derivative instruments to hedge U.S. dollar securities back to the Canadian dollar. Depending on market volatility and other factors, the ETF will write covered call options on these securities.