BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Sets New 1-Year High – Here’s Why

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$26.20 and last traded at C$25.92, with a volume of 309269 shares trading hands. The stock had previously closed at C$26.09.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Stock Performance

The business has a 50-day simple moving average of C$25.28 and a two-hundred day simple moving average of C$23.56.

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

The firm also recently announced a monthly dividend, which was paid on Tuesday, December 2nd. Investors of record on Tuesday, December 2nd were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 26th. This represents a c) annualized dividend and a yield of 5.6%.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Company Profile

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.