Short Interest in Peerless Option Income Wheel ETF (NYSEARCA:WEEL) Declines By 28.1%

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) was the recipient of a large drop in short interest in May. As of May 31st, there was short interest totalling 4,100 shares, a drop of 28.1% from the May 15th total of 5,700 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 2,900 shares, the short-interest ratio is currently 1.4 days.

Peerless Option Income Wheel ETF Stock Performance

Shares of WEEL stock opened at $19.63 on Wednesday. Peerless Option Income Wheel ETF has a fifty-two week low of $16.22 and a fifty-two week high of $22.81. The stock has a 50 day simple moving average of $18.73 and a two-hundred day simple moving average of $19.36. The company has a market cap of $12.76 million and a P/E ratio of 18.69.

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.