Peerless Option Income Wheel ETF (NYSEARCA:WEEL) Sees Significant Increase in Short Interest

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 58,503 shares, an increase of 116.0% from the April 15th total of 27,083 shares. Based on an average daily trading volume, of 14,922 shares, the short-interest ratio is currently 3.9 days. Approximately 3.5% of the shares of the company are sold short.

Peerless Option Income Wheel ETF Trading Down 1.0%

Peerless Option Income Wheel ETF stock opened at $20.22 on Friday. The firm has a 50 day moving average of $20.05 and a 200 day moving average of $20.25. The firm has a market capitalization of $33.36 million, a price-to-earnings ratio of 18.69 and a beta of 0.52. Peerless Option Income Wheel ETF has a 12-month low of $18.90 and a 12-month high of $21.59.

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.