GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Sees Large Decrease in Short Interest

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 8,996,483 shares, a drop of 50.6% from the June 30th total of 18,222,632 shares. Based on an average trading volume of 18,760,650 shares, the days-to-cover ratio is presently 0.5 days. Currently, 8.6% of the shares of the company are sold short.

GraniteShares 2x Long COIN Daily ETF Stock Up 0.4%

GraniteShares 2x Long COIN Daily ETF stock traded up $0.02 during mid-day trading on Tuesday, hitting $5.36. 9,332,757 shares of the company’s stock traded hands, compared to its average volume of 18,074,328. GraniteShares 2x Long COIN Daily ETF has a one year low of $3.88 and a one year high of $55.00. The firm has a 50 day moving average price of $5.60 and a 200 day moving average price of $8.07.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

A number of hedge funds and other institutional investors have recently modified their holdings of CONL. UBS Group AG lifted its holdings in GraniteShares 2x Long COIN Daily ETF by 64.8% in the third quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock worth $72,982,000 after purchasing an additional 767,632 shares during the period. Optiver Holding B.V. raised its position in shares of GraniteShares 2x Long COIN Daily ETF by 232.2% during the 1st quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock worth $906,000 after buying an additional 90,448 shares in the last quarter. IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth approximately $814,000. Renaissance Technologies LLC lifted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 91.2% in the 4th quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock worth $1,342,000 after acquiring an additional 43,700 shares during the period. Finally, Austin Wealth Management LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $662,000.

GraniteShares 2x Long COIN Daily ETF Company Profile

The GraniteShares 1.5x Long Coinbase Daily ETF (CONL) is an exchange-traded fund that mostly invests in financials equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Coinbase stock. CONL was launched on Aug 9, 2022 and is managed by GraniteShares.