Bitwise MARA Option Income Strategy ETF (NYSEARCA:IMRA) Sees Significant Decline in Short Interest

Bitwise MARA Option Income Strategy ETF (NYSEARCA:IMRA) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 3,865 shares, a drop of 82.0% from the June 30th total of 21,436 shares. Based on an average trading volume of 2,327 shares, the days-to-cover ratio is presently 1.7 days. Currently, 3.0% of the company’s stock are sold short.

Bitwise MARA Option Income Strategy ETF Stock Performance

IMRA traded up $0.04 on Friday, hitting $14.52. The company had a trading volume of 6,810 shares, compared to its average volume of 4,912. The stock has a fifty day moving average price of $16.60 and a 200-day moving average price of $15.51. Bitwise MARA Option Income Strategy ETF has a 12-month low of $11.99 and a 12-month high of $43.70. The stock has a market capitalization of $1.89 million, a price-to-earnings ratio of 290.40 and a beta of 2.74.

Insider Buying and Selling

In related news, insider Helen Louise Collins sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $43.80, for a total transaction of $219,000.00. Following the completion of the sale, the insider directly owned 25,000 shares in the company, valued at $1,095,000. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Orbimed Advisors Llc sold 860,123 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $45.36, for a total value of $39,015,179.28. Following the sale, the insider owned 219,405 shares of the company’s stock, valued at $9,952,210.80. This trade represents a 79.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,172,549 shares of company stock valued at $53,017,056. 37.30% of the stock is owned by insiders.

About Bitwise MARA Option Income Strategy ETF

IMARA Inc, a clinical-stage biopharmaceutical company, develops and commercializes therapeutics for patients with rare genetic disorders of hemoglobin. Its lead product candidate is IMR-687, an oral and once-a-day therapeutic that is in Phase 2b clinical trials for the treatment of sickle cell disease and ß-thalassemia. The company also develops IMR-261, an oral and clinical-ready activator of nuclear factor erythroid 2–related factor 2 for the treatment of hemoglobinopathies, iron disorders, and potentially other areas.