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

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB)’s share price 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 trading hands. The stock had previously closed at C$31.21.

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

The firm’s 50 day simple moving average is C$29.09 and its two-hundred day simple moving average is C$26.86.

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

The business also recently declared a monthly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were paid a $0.15 dividend. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Monday, June 29th.

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.