BMO Equal Weight Banks Index ETF (TSE:ZEB) Sets New 1-Year High – Time to Buy?

BMO Equal Weight Banks Index ETF (TSE:ZEB)’s share price hit a new 52-week high on Thursday . The company traded as high as C$67.19 and last traded at C$66.93, with a volume of 2135681 shares changing hands. The stock had previously closed at C$65.51.

BMO Equal Weight Banks Index ETF Price Performance

The company has a fifty day moving average price of C$61.79 and a 200-day moving average price of C$58.84.

BMO Equal Weight Banks Index ETF Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, March 3rd were paid a $0.146 dividend. The ex-dividend date of this dividend was Thursday, February 26th. This represents a c) dividend on an annualized basis and a yield of 2.6%.

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.