BMO Covered Call Utilities ETF (TSE:ZWU) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

BMO Covered Call Utilities ETF (TSE:ZWU) crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$11.20 and traded as low as C$11.03. BMO Covered Call Utilities ETF shares last traded at C$11.14, with a volume of 285,271 shares changing hands.

BMO Covered Call Utilities ETF Trading Up 1.2%

The company has a 50-day moving average of C$11.20 and a 200-day moving average of C$11.67.

BMO Covered Call Utilities ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were given a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Friday, August 28th.

BMO Covered Call Utilities ETF Company Profile

The ETF seeks to provide exposure to the performance of a portfolio of utilities companies to generate income and to provide long-term capital appreciation. To achieve investment objective the ETF will primarily invest in and hold the equity securities of Canadian companies widely recognized as utilities companies, which may also include telecommunication and pipeline companies, and use derivative instruments to hedge U.S. dollar securities back to the Canadian dollar. Depending on market volatility and other factors, the ETF will write covered call options on these securities.