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

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totaling 27,083 shares, an increase of 313.6% from the March 31st total of 6,548 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 19,364 shares, the days-to-cover ratio is currently 1.4 days.

Peerless Option Income Wheel ETF Price Performance

Shares of NYSEARCA WEEL opened at $20.31 on Monday. The firm has a market cap of $33.51 million, a PE ratio of 18.69 and a beta of 0.58. Peerless Option Income Wheel ETF has a 12-month low of $18.14 and a 12-month high of $21.59. The company’s fifty day simple moving average is $20.05 and its 200 day simple moving average is $20.24.

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.