YieldMax PYPL Option Income Strategy ETF (NYSEARCA:PYPY) Trading Down 2.5% – Here’s Why

Shares of YieldMax PYPL Option Income Strategy ETF (NYSEARCA:PYPY) fell 2.5% during mid-day trading on Wednesday . The stock traded as low as $37.63 and last traded at $37.75. 13,269 shares were traded during mid-day trading, an increase of 81% from the average session volume of 7,348 shares. The stock had previously closed at $38.70.

YieldMax PYPL Option Income Strategy ETF Stock Performance

The firm has a market cap of $29.45 million, a P/E ratio of 18.19 and a beta of 0.81. The stock’s 50-day moving average is $41.51 and its 200 day moving average is $50.25.

YieldMax PYPL Option Income Strategy ETF Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 29th will be given a dividend of $0.2419 per share. The ex-dividend date of this dividend is Thursday, January 29th. This represents a dividend yield of 3,033.0%.

YieldMax PYPL Option Income Strategy ETF Company Profile

The YieldMax PYPL Option Income Strategy ETF (PYPY) is an exchange-traded fund that mostly invests in financials equity. The fund seeks to provide current income and capped gains on the Paypal stock (PYPL) through a synthetic covered call strategy, collateralized by cash and US Treasurys. The actively managed fund uses both standardized exchange-traded and FLEX options. PYPY was launched on Sep 25, 2023 and is issued by YieldMax.