BMO Covered Call Utilities ETF (TSE:ZWU) Stock Passes Below 50 Day Moving Average – What’s Next?

BMO Covered Call Utilities ETF (TSE:ZWU)’s stock price crossed 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.

BMO Covered Call Utilities ETF Price Performance

The stock’s 50-day moving average price is C$11.96 and its 200-day moving average price is C$11.64.

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.