BMO Equal Weight Banks Index ETF (TSE:ZEB) Shares Down 1.5% – Should You Sell?

BMO Equal Weight Banks Index ETF (TSE:ZEB)’s stock price fell 1.5% during trading on Tuesday . The stock traded as low as C$76.50 and last traded at C$77.00. 1,703,761 shares traded hands during trading, a decline of 3% from the average session volume of 1,747,991 shares. The stock had previously closed at C$78.17.

BMO Equal Weight Banks Index ETF Stock Performance

The stock’s 50 day moving average price is C$75.87 and its 200 day moving average price is C$67.57.

BMO Equal Weight Banks Index ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, August 5th. Investors of record on Wednesday, August 5th were issued a dividend of $0.148 per share. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, July 30th.

About BMO Equal Weight Banks Index ETF

The ETF seeks to replicate, to the extent possible, the performance of an equal weight diversified Canadian bank index, net of expenses. Currently, the ETF seeks to replicate the performance of the Solactive Equal Weight Canada Banks 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.