BMO Equal Weight Banks Index ETF (TSE:ZEB) Reaches New 1-Year High – Still a Buy?

BMO Equal Weight Banks Index ETF (TSE:ZEB)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$58.92 and last traded at C$58.90, with a volume of 678901 shares traded. The stock had previously closed at C$58.70.

BMO Equal Weight Banks Index ETF Price Performance

The business’s 50-day moving average is C$55.43 and its two-hundred day moving average is C$51.02.

BMO Equal Weight Banks Index ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Tuesday, November 4th were issued a $0.145 dividend. The ex-dividend date was Thursday, October 30th. This represents a c) annualized dividend and a 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.