BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Sets New 52-Week High – Should You Buy?

Shares of BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$31.31 and last traded at C$31.29, with a volume of 84178 shares changing hands. The stock had previously closed at C$31.21.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Trading Up 0.5%

The business has a fifty day moving average of C$29.09 and a 200 day moving average of C$26.86.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%.

About BMO Covered Call Canadian Banks ETF (ZWB.TO)

The ETF seeks to provide exposure to the performance of a portfolio of Canadian banks to generate income and to provide long-term capital appreciation while mitigating downside risk through the use of covered call options. To achieve investment objective the ETF will primarily invest in and hold the securities of Canadian banks, ETFs, or a combination of these. Depending on market volatility and other factors, the ETF will write covered call options on these securities. Under such call options, the ETF will sell to the buyer of the option, for a premium, either a right to buy the security from the ETF at an exercise price or, if the option is cash settled, the right to a payment from the ETF equal to the difference between the value of the security and the exercise price.