BMO Covered Call Utilities ETF (TSE:ZWU) Reaches New 1-Year High – Still a Buy?

BMO Covered Call Utilities ETF (TSE:ZWU) shares hit a new 52-week high on Monday . The stock traded as high as C$12.05 and last traded at C$12.03, with a volume of 97018 shares changing hands. The stock had previously closed at C$11.96.

BMO Covered Call Utilities ETF Stock Performance

The firm’s 50 day moving average price is C$11.32 and its 200 day moving average price is C$11.34.

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.