BMO Equal Weight Banks Index ETF (TSE:ZEB) Sets New 1-Year High – Here’s Why

BMO Equal Weight Banks Index ETF (TSE:ZEB)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$58.84 and last traded at C$58.80, with a volume of 267403 shares changing hands. The stock had previously closed at C$58.49.

BMO Equal Weight Banks Index ETF Stock Up 0.2%

The firm’s 50-day simple moving average is C$55.18 and its 200 day simple moving average is C$50.78.

BMO Equal Weight Banks Index ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, November 4th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.145 per share. The ex-dividend date was Thursday, October 30th. This represents a c) annualized dividend and a dividend yield of 3.0%.

BMO Equal Weight Banks Index ETF Company Profile

The ETF seeks to replicate, to the extent possible, the performance of an equal weight diversified Canadian bank index, net of expenses. Currently, the ETF seeks to replicate the performance of the Solactive Equal Weight Canada Banks Index (the Index). The investment strategy of the ETF is to invest in and hold the constituent securities of the Index in the same proportion as they are reflected in the Index. The Manager may also use a sampling methodology in selecting investments for the ETF. As an alternative to or in conjunction with investing in and holding the constituent securities, the ETF may invest in or use certain Other Securities (as defined in the prospectus) to obtain exposure to the performance of the Index.