A device is provided that is adapted for mounting on a vertical support, such as a stud at a construction job site, to hold a spool of wire off the floor, allowing the wire to be dispensed easily, yet providing sufficient drag on the reel to avoid excess unspooling of the wire. The device is adapted for mounting on a stud or comparable vertical support without the use of tools or fasteners so it can be moved quickly from location to location. The device is conveniently disassembled into two smaller assemblies for storage and transport to the job site.