BMO Equal Weight Utilities Index ETF (TSE:ZUT) Reaches New 1-Year High – Still a Buy?

BMO Equal Weight Utilities Index ETF (TSE:ZUT)’s share price hit a new 52-week high on Monday . The stock traded as high as C$30.25 and last traded at C$30.22, with a volume of 16359 shares trading hands. The stock had previously closed at C$29.97.

BMO Equal Weight Utilities Index ETF Trading Up 0.5%

The business has a fifty day simple moving average of C$29.34 and a 200 day simple moving average of C$27.54.

About BMO Equal Weight Utilities Index ETF

The ETF seeks to replicate, to the extent possible, the performance of an equal weight utilities companies index, net of expenses. Currently, the ETF seeks to replicate the performance of the Solactive Equal Weight Canada Utilities Index (the Index). The investment strategy of the ETF is to invest in and hold the constituent securities of the Index in the same proportion as they are reflected in the Index. The Manager may also use a sampling methodology in selecting investments for the ETF. As an alternative to or in conjunction with investing in and holding the constituent securities, the ETF may invest in or use certain Other Securities (as defined in the prospectus) to obtain exposure to the performance of the Index.