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

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 15,939 shares, a decline of 72.8% from the April 30th total of 58,503 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 15,389 shares, the days-to-cover ratio is presently 1.0 days.

Peerless Option Income Wheel ETF Price Performance

Peerless Option Income Wheel ETF stock remained flat at $20.54 during mid-day trading on Friday. 5,617 shares of the company’s stock traded hands, compared to its average volume of 15,496. The firm has a market capitalization of $33.89 million, a PE ratio of 18.69 and a beta of 0.52. Peerless Option Income Wheel ETF has a 12-month low of $18.98 and a 12-month high of $21.59. The firm’s fifty day simple moving average is $20.08 and its two-hundred day simple moving average is $20.26.

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.