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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONLGet Free Report) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,960,000 shares, a decrease of 41.1% from the December 15th total of 3,330,000 shares. Based on an average daily volume of 10,145,300 shares, the days-to-cover ratio is presently 0.2 days.

GraniteShares 2x Long COIN Daily ETF Price Performance

Shares of CONL stock traded up $0.65 during trading hours on Tuesday, hitting $36.03. 4,641,012 shares of the company’s stock traded hands, compared to its average volume of 5,241,700. The stock’s fifty day simple moving average is $50.69 and its two-hundred day simple moving average is $39.37. GraniteShares 2x Long COIN Daily ETF has a 12-month low of $16.63 and a 12-month high of $87.37.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter worth approximately $8,079,000. IMC Chicago LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth approximately $2,412,000. Finally, SG Americas Securities LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at approximately $122,000.

About GraniteShares 2x Long COIN Daily ETF

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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.

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