OVM Stock Summary and Trading Ideas (Overlay Shares Municipal Bond ETF | ARCA:OVM)

The Fund is an actively-managed exchange-traded fund ( ETF ) that seeks to achieve its objective by (i) investing in one or more other ETFs that seek to obtain exposure to the performance of investment grade municipal bonds and below investment grade municipal bonds or directly in the securities held by such ETFs (collectively, the Underlying Investments ) and (ii) selling and purchasing listed short-term put options to generate income to the Fund (the Overlay Strategy ).

Overlay Shares Municipal Bond ETF trades on the ARCA stock market under the symbol OVM.

As of April 22, 2024, OVM stock price was flat at $21.64 with 471 million shares trading.

OVM has a market cap of $20.71 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, OVM stock traded as high as $27.28 and as low as $19.60.

OVM has underperformed the market in the last year with a return of +3.4%, while the SPY ETF gained +22.9%. In the last 3 month period, OVM fell short of the market, returning -0.5%, while SPY returned +3.7%. However, in the most recent 2 weeks OVM has outperformed the stock market by returning -1.9%, while SPY returned -3.7%.

OVM support price is $21.52 and resistance is $21.76 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OVM stock will trade within this expected range on the day.