BMO Covered Call Utilities ETF (TSE:ZWU) Hits New 12-Month High – Still a Buy?

BMO Covered Call Utilities ETF (TSE:ZWU)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$12.24 and last traded at C$12.22, with a volume of 142110 shares traded. The stock had previously closed at C$12.11.

BMO Covered Call Utilities ETF Stock Performance

The firm has a 50-day simple moving average of C$11.61 and a 200 day simple moving average of C$11.41.

BMO Covered Call Utilities ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.07 per share. The ex-dividend date was Thursday, February 26th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%.

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.