Short Interest in GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Expands By 53.4%

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 13,803,371 shares, an increase of 53.4% from the July 15th total of 8,996,483 shares. Based on an average daily trading volume, of 18,296,808 shares, the short-interest ratio is currently 0.8 days. Approximately 14.2% of the company’s shares are short sold.

GraniteShares 2x Long COIN Daily ETF Stock Down 3.1%

Shares of NASDAQ:CONL opened at $4.03 on Tuesday. The stock’s 50-day moving average price is $4.88 and its 200-day moving average price is $6.88. GraniteShares 2x Long COIN Daily ETF has a 12-month low of $3.56 and a 12-month high of $52.40.

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

Institutional investors have recently bought and sold shares of the stock. Jump Financial LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the 2nd quarter worth approximately $1,248,000. Peapack Gladstone Financial Corp purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the second quarter valued at approximately $293,000. UBS Group AG boosted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 64.8% during the third quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock valued at $72,982,000 after purchasing an additional 767,632 shares during the period. Scientech Research LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter worth approximately $388,000. Finally, Crescent Grove Advisors LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth approximately $238,000.

About GraniteShares 2x Long COIN Daily ETF

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.