Overlay Shares Municipal Bond ETF (OVM)
Overlay Shares Municipal Bond ETF operates in the Asset Management industry of the Financial Services sector, headquartered in Brentwood, TN, US. The stock last traded at $21.52, up 0.09% on the session, giving a market capitalisation of $43.0M. Its beta of 1.24 implies it has historically moved more than the broad market.
OVM holds other ETFs that provide broad exposure to U.S. investment-grade municipal bonds. The fund adviser also constructs a bullish strategy on the S&P 500 by selling short put options at a strike below the level of the index and buying an equal amount put options below the strike price of the short put options. The objective is to enhance the total return of the Bloomberg Municipal Bond Index for investors. There is no guarantee the adviser will be successful. During volatile markets, the price of options could rise, which, in turn, could have a detrimental effect on the Funds performance and achieving its targeted return.
Overlay Shares Municipal Bond ETF is most often compared with the following Financial Services names: