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

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 36,560 shares, an increase of 214.8% from the December 31st total of 11,614 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 15,834 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 15,834 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.5% of the shares of the company are sold short.

Peerless Option Income Wheel ETF Stock Down 0.7%

Shares of NYSEARCA:WEEL traded down $0.14 on Friday, reaching $20.18. 24,231 shares of the company’s stock were exchanged, compared to its average volume of 13,657. The business’s 50-day moving average is $20.44 and its two-hundred day moving average is $20.25. Peerless Option Income Wheel ETF has a fifty-two week low of $16.22 and a fifty-two week high of $21.59. The firm has a market capitalization of $29.26 million, a price-to-earnings ratio of 18.69 and a beta of 0.65.

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.