BMO Covered Call Utilities ETF (TSE:ZWU) Hits New 52-Week Low – Here’s Why

BMO Covered Call Utilities ETF (TSE:ZWU)’s share price hit a new 52-week low during trading on Friday. The stock traded as low as C$10.88 and last traded at C$10.88, with a volume of 75328 shares changing hands. The stock had previously closed at C$10.91.

BMO Covered Call Utilities ETF Price Performance

The stock has a 50-day moving average of C$11.50 and a two-hundred day moving average of C$11.80.

BMO Covered Call Utilities ETF Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.84 annualized dividend and a dividend yield of 7.7%.

BMO Covered Call Utilities ETF Company Profile

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.