BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Reaches New 1-Year High – Time to Buy?

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$26.23 and last traded at C$26.22, with a volume of 56777 shares traded. The stock had previously closed at C$26.01.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Trading Up 1.1%

The stock’s 50-day moving average price is C$25.39 and its 200 day moving average price is C$23.74.

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

The company also recently declared a monthly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Tuesday, December 2nd were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a c) annualized dividend and a yield of 5.5%.

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.