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

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 14,893 shares, a growth of 897.5% from the February 26th total of 1,493 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 8,064 shares, the short-interest ratio is currently 1.8 days. Based on an average daily trading volume, of 8,064 shares, the short-interest ratio is currently 1.8 days. Currently, 1.0% of the company’s stock are sold short.

Peerless Option Income Wheel ETF Stock Performance

Shares of WEEL opened at $19.92 on Wednesday. The firm’s 50 day moving average price is $20.22 and its two-hundred day moving average price is $20.30. Peerless Option Income Wheel ETF has a twelve month low of $16.22 and a twelve month high of $21.59. The firm has a market cap of $28.88 million, a P/E 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.