BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Trading Down 0.4% – Time to Sell?

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) dropped 0.4% during trading on Monday . The company traded as low as C$25.24 and last traded at C$25.25. Approximately 226,615 shares were traded during trading, an increase of 41% from the average daily volume of 160,728 shares. The stock had previously closed at C$25.36.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Stock Down 0.4%

The company’s fifty day moving average is C$24.89 and its two-hundred day moving average is C$23.21.

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

The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 2nd. Investors of record on Tuesday, December 2nd were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 26th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%.

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

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.