BMO Equal Weight Banks Index ETF (TSE:ZEB) Stock Jumps 1.4% – Still a Buy?

BMO Equal Weight Banks Index ETF (TSE:ZEB) was up 1.4% during trading on Friday. The stock traded as high as C$72.14 and last traded at C$72.07. 848,021 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,689,038 shares. The stock had previously closed at C$71.04.

BMO Equal Weight Banks Index ETF Stock Performance

The business has a 50-day simple moving average of C$74.85 and a two-hundred day simple moving average of C$71.27.

BMO Equal Weight Banks Index ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd were given a $0.1480 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 28th.

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.