BMO Covered Call Utilities ETF (TSE:ZWU) Reaches New 1-Year High – Still a Buy?

BMO Covered Call Utilities ETF (TSE:ZWU) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$11.66 and last traded at C$11.66, with a volume of 203570 shares traded. The stock had previously closed at C$11.59.

BMO Covered Call Utilities ETF Stock Performance

The stock’s 50-day simple moving average is C$11.19 and its two-hundred day simple moving average is C$11.30.

BMO Covered Call Utilities ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, December 2nd. Investors of record on Tuesday, December 2nd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%.

About BMO Covered Call Utilities ETF

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.