BMO Equal Weight Banks Index ETF (TSE:ZEB) Shares Up 1.1% – Should You Buy?

BMO Equal Weight Banks Index ETF (TSE:ZEB)’s stock price shot up 1.1% during trading on Thursday . The stock traded as high as C$62.57 and last traded at C$62.51. 1,561,182 shares traded hands during trading, a decline of 10% from the average session volume of 1,726,292 shares. The stock had previously closed at C$61.81.

BMO Equal Weight Banks Index ETF Stock Performance

The business has a 50 day moving average of C$59.96 and a 200 day moving average of C$57.15.

BMO Equal Weight Banks Index ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, March 3rd were paid a dividend of $0.146 per share. The ex-dividend date of this dividend was Thursday, February 26th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%.

About BMO Equal Weight Banks Index ETF

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.