BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Shares Down 1.6% – Should You Sell?

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) shares traded down 1.6% during mid-day trading on Thursday . The company traded as low as C$29.75 and last traded at C$29.91. 352,065 shares were traded during trading, an increase of 114% from the average session volume of 164,386 shares. The stock had previously closed at C$30.41.

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

The business’s fifty day moving average price is C$31.13 and its 200 day moving average price is C$28.27.

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

The business also recently declared a monthly dividend, which was paid on Wednesday, August 5th. Investors of record on Wednesday, August 5th were issued a dividend of $0.17 per share. This is an increase from BMO Covered Call Canadian Banks ETF (ZWB.TO)’s previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Thursday, July 30th.

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.