BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Hits New 12-Month High – Time to Buy?

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

BMO Covered Call Canadian Banks ETF (ZWB.TO) Trading Up 0.2%

The firm’s fifty day moving average is C$25.31 and its 200-day moving average is C$23.61.

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

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

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.