BMO Covered Call Utilities ETF (TSE:ZWU) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

BMO Covered Call Utilities ETF (TSE:ZWU) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$11.14 and traded as high as C$11.16. BMO Covered Call Utilities ETF shares last traded at C$11.16, with a volume of 161,932 shares changing hands.

BMO Covered Call Utilities ETF Price Performance

The firm’s 50-day moving average price is C$11.12 and its 200 day moving average price is C$11.66.

BMO Covered Call Utilities ETF Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.84 dividend on an annualized basis and a yield of 7.5%.

About BMO Covered Call Utilities ETF

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.