Peerless Option Income Wheel ETF (NYSEARCA:WEEL) Sees Large Decrease in Short Interest

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 14,563 shares, a drop of 60.2% from the January 15th total of 36,560 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 11,573 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 11,573 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.0% of the shares of the company are sold short.

Peerless Option Income Wheel ETF Trading Down 0.7%

WEEL stock traded down $0.15 during midday trading on Thursday, reaching $20.10. 18,966 shares of the company’s stock traded hands, compared to its average volume of 13,657. Peerless Option Income Wheel ETF has a 52-week low of $16.22 and a 52-week high of $21.59. The stock has a market cap of $29.15 million, a P/E ratio of 18.69 and a beta of 0.65. The stock’s 50-day moving average is $20.36 and its 200 day moving average is $20.27.

Peerless Option Income Wheel ETF Company Profile

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.