BMO Covered Call Utilities ETF (TSE:ZWU) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

BMO Covered Call Utilities ETF (TSE:ZWU)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$11.96 and traded as low as C$11.84. BMO Covered Call Utilities ETF shares last traded at C$11.90, with a volume of 256,431 shares changing hands.

BMO Covered Call Utilities ETF Stock Up 0.8%

The business has a 50-day moving average of C$11.96 and a 200-day moving average of C$11.63.

BMO Covered Call Utilities ETF Company Profile

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.