BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Shares Up 0.3% – Still a Buy?

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB – Get Free Report) rose 0.3% on Thursday . The company traded as high as C$30.19 and last traded at C$30.16. Approximately 153,239 shares traded hands during trading, a decline of 7% from the average session volume of 165,318 shares. The stock had previously closed at C$30.07.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Stock Up 0.3%

The business has a fifty day moving average of C$31.04 and a two-hundred day moving average of C$28.75.

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BMO Covered Call Canadian Banks ETF (ZWB.TO) Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Wednesday, August 5th were given a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 6.8%. This is a boost from BMO Covered Call Canadian Banks ETF (ZWB.TO)’s previous monthly dividend of $0.15. The ex-dividend date was Thursday, July 30th.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Company Profile

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The ETF seeks to provide exposure to the performance of a portfolio of Canadian banks to generate income and to provide long-term capital appreciation while mitigating downside risk through the use of covered call options. To achieve investment objective the ETF will primarily invest in and hold the securities of Canadian banks, ETFs, or a combination of these. Depending on market volatility and other factors, the ETF will write covered call options on these securities. Under such call options, the ETF will sell to the buyer of the option, for a premium, either a right to buy the security from the ETF at an exercise price or, if the option is cash settled, the right to a payment from the ETF equal to the difference between the value of the security and the exercise price.

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