BMO Covered Call Utilities ETF (TSE:ZWU) Hits New 52-Week High – Should You Buy?

Shares of BMO Covered Call Utilities ETF (TSE:ZWU) reached a new 52-week high on Monday . The stock traded as high as C$12.18 and last traded at C$12.17, with a volume of 183316 shares traded. The stock had previously closed at C$12.14.

BMO Covered Call Utilities ETF Price Performance

The firm’s 50 day moving average price is C$11.39 and its two-hundred day moving average price is C$11.36.

BMO Covered Call Utilities ETF Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, March 3rd will be given a $0.07 dividend. The ex-dividend date is Thursday, February 26th. This represents a c) annualized dividend and a dividend yield of 6.9%.

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.