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

Peerless Option Income Wheel ETF (NYSEARCA:WEEL) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 24,252 shares, a growth of 301.4% from the June 30th total of 6,042 shares. Based on an average trading volume of 19,290 shares, the short-interest ratio is currently 1.3 days. Approximately 1.2% of the company’s stock are sold short.

Peerless Option Income Wheel ETF Trading Up 0.4%

Shares of NYSEARCA:WEEL opened at $19.99 on Tuesday. Peerless Option Income Wheel ETF has a 52 week low of $18.98 and a 52 week high of $23.94. The company’s 50 day moving average is $20.18 and its two-hundred day moving average is $20.16. The company has a market cap of $38.98 million, a PE ratio of 18.69 and a beta of 0.50.

About Peerless Option Income Wheel ETF

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.