Short Interest in Peerless Option Income Wheel ETF (NYSEARCA:WEEL) Rises By 301.4%

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 24,252 shares, an increase of 301.4% from the June 30th total of 6,042 shares. Based on an average daily volume of 19,290 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.2% of the company’s stock are sold short.

Peerless Option Income Wheel ETF Stock Performance

WEEL traded down $0.04 on Friday, hitting $19.91. The company had a trading volume of 19,905 shares, compared to its average volume of 15,895. The stock has a market capitalization of $38.82 million, a price-to-earnings ratio of 18.69 and a beta of 0.50. The stock has a fifty day moving average price of $20.19 and a 200-day moving average price of $20.16. Peerless Option Income Wheel ETF has a 12-month low of $18.98 and a 12-month high of $23.94.

About Peerless Option Income Wheel ETF

The Peerless Option Income Wheel ETF (WEEL) is an exchange-traded fund that mostly invests in total market equity. The fund seeks current income by investing in sector-specific ETFs while utilizing an option wheel strategy that combines cash-secured put writing with covered call writing. The actively managed fund aims to generate equity-like returns over the long term through income generation, with less overall volatility. WEEL was launched on May 15, 2024 and is issued by Peerless.