YieldMax PYPL Option Income Strategy ETF (NYSEARCA:PYPY) Shares Down 2.5% – Here’s What Happened

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

YieldMax PYPL Option Income Strategy ETF Stock Down 2.5%

The business’s fifty day moving average is $41.51 and its two-hundred day moving average is $50.25. The firm has a market cap of $29.45 million, a price-to-earnings ratio of 18.19 and a beta of 0.81.

YieldMax PYPL Option Income Strategy ETF Cuts Dividend

The company also recently announced 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 is Thursday, January 29th. This represents a dividend yield of 3,033.0%.

About YieldMax PYPL Option Income Strategy ETF

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.