BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Sets New 1-Year High - Here's Why

Key Points

• The BMO Covered Call Canadian Banks ETF (ZWB.TO) reached a new 12-month high of C$22.35 during trading, closing at C$22.33 with a trading volume of 44,524 shares.
• The ETF recently announced a monthly dividend of $0.11 per share, offering an annualized yield of 5.9% for its shareholders.
• This ETF primarily invests in Canadian bank securities to generate income and long-term capital appreciation, while also using covered call options to mitigate downside risk.

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$22.35 and last traded at C$22.33, with a volume of 44524 shares traded. The stock had previously closed at C$22.25.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Stock Down 0.3%

The business's 50 day moving average is C$21.46 and its 200-day moving average is C$20.09.

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

The business also recently disclosed a monthly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, August 5th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a c) annualized dividend and a yield of 5.9%.

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.