BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Hits New 52-Week High - Here's Why

Key Points

• The BMO Covered Call Canadian Banks ETF (ZWB.TO) reached a new 12-month high, trading at C$21.35, with a recent performance showcasing a moving average price of C$20.54.
• Investors can expect a monthly dividend of $0.11 per share, which translates to an annualized dividend of $1.32 and a yield of 6.22%.
• This ETF aims to generate income and long-term capital appreciation by primarily investing in Canadian banks while using covered call options to mitigate downside risk.

Shares of BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as C$21.35 and last traded at C$21.23, with a volume of 109889 shares trading hands. The stock had previously closed at C$21.30.

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

The stock has a 50 day moving average price of C$20.61 and a two-hundred day moving average price of C$19.70.

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

The company also recently declared a monthly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, August 5th will be given a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, 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.