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

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

BMO Equal Weight Banks Index ETF Stock Performance

The company has a 50 day moving average price of C$74.85 and a 200 day moving average price of C$71.27.

BMO Equal Weight Banks Index ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were issued a dividend of $0.1480 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.78 annualized dividend and a yield of 2.5%.

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.