BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Trading Down 1.1% – Here’s Why
by Michael Walen · The Markets DailyBMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB – Get Free Report) shares fell 1.1% during mid-day trading on Thursday . The stock traded as low as C$24.81 and last traded at C$24.90. 192,424 shares were traded during trading, an increase of 8% from the average session volume of 177,712 shares. The stock had previously closed at C$25.18.
BMO Covered Call Canadian Banks ETF (ZWB.TO) Price Performance
The company’s 50-day moving average is C$25.57 and its 200 day moving average is C$24.35.
BMO Covered Call Canadian Banks ETF (ZWB.TO) Company Profile
The ETF seeks to provide exposure to the performance of a portfolio of Canadian banks to generate income and to provide long-term capital appreciation while mitigating downside risk through the use of covered call options. To achieve investment objective the ETF will primarily invest in and hold the securities of Canadian banks, ETFs, or a combination of these. Depending on market volatility and other factors, the ETF will write covered call options on these securities. Under such call options, the ETF will sell to the buyer of the option, for a premium, either a right to buy the security from the ETF at an exercise price or, if the option is cash settled, the right to a payment from the ETF equal to the difference between the value of the security and the exercise price.