BMO Covered Call Utilities ETF (TSE:ZWU) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

BMO Covered Call Utilities ETF (TSE:ZWU) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$11.92 and traded as low as C$11.53. BMO Covered Call Utilities ETF shares last traded at C$11.66, with a volume of 882,705 shares trading hands.

BMO Covered Call Utilities ETF Trading Down 0.7%

The firm has a fifty day simple moving average of C$11.92 and a 200-day simple moving average of C$11.88.

BMO Covered Call Utilities ETF Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a c) annualized dividend and a yield of 7.2%.

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.