BMO Covered Call Utilities ETF (TSE:ZWU) Sets New 52-Week Low – Here’s What Happened

Shares of BMO Covered Call Utilities ETF (TSE:ZWU) reached a new 52-week low during trading on Thursday. The stock traded as low as C$10.69 and last traded at C$10.69, with a volume of 33547 shares trading hands. The stock had previously closed at C$10.75.

BMO Covered Call Utilities ETF Stock Down 0.4%

The stock’s 50 day moving average price is C$11.41 and its two-hundred day moving average price is C$11.76.

BMO Covered Call Utilities ETF Announces Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were given a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Friday, August 28th.

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.