Short Interest in Bitwise MARA Option Income Strategy ETF (NYSEARCA:IMRA) Expands By 177.5%
by Mitch Edgeman · The Markets DailyBitwise MARA Option Income Strategy ETF (NYSEARCA:IMRA – Get Free Report) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 21,287 shares, an increase of 177.5% from the May 14th total of 7,671 shares. Approximately 11.2% of the shares of the stock are short sold. Based on an average trading volume of 7,366 shares, the days-to-cover ratio is presently 2.9 days.
Insider Buying and Selling at Bitwise MARA Option Income Strategy ETF
In other news, Director Lori Anne Kunkel sold 10,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $34.54, for a total value of $345,400.00. Following the completion of the sale, the director owned 51,884 shares in the company, valued at $1,792,073.36. This represents a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Helen Louise Collins sold 5,000 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $47.67, for a total value of $238,350.00. Following the completion of the sale, the insider owned 25,000 shares of the company’s stock, valued at $1,191,750. The trade was a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 60,000 shares of company stock valued at $2,126,550. Corporate insiders own 37.30% of the company’s stock.
Bitwise MARA Option Income Strategy ETF Stock Up 0.7%
Shares of IMRA traded up $0.11 during mid-day trading on Friday, reaching $17.02. The company’s stock had a trading volume of 210 shares, compared to its average volume of 5,322. The business has a fifty day moving average of $16.13 and a 200 day moving average of $15.93. The company has a market cap of $3.23 million, a price-to-earnings ratio of 340.40 and a beta of 2.88. Bitwise MARA Option Income Strategy ETF has a 1 year low of $11.99 and a 1 year high of $54.94.
Bitwise MARA Option Income Strategy ETF Company Profile
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.