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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 4,990,000 shares, a growth of 8.5% from the August 31st total of 4,600,000 shares. Based on an average daily volume of 3,218,100 shares, the short-interest ratio is currently 1.6 days.

GraniteShares 2x Long COIN Daily ETF Price Performance

NASDAQ CONL traded down $4.36 during trading hours on Tuesday, reaching $20.48. The stock had a trading volume of 10,963,427 shares, compared to its average volume of 2,396,645. GraniteShares 2x Long COIN Daily ETF has a 52-week low of $9.14 and a 52-week high of $87.37. The stock has a fifty day moving average of $30.67 and a 200 day moving average of $46.22.

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

A hedge fund recently bought a new stake in GraniteShares 2x Long COIN Daily ETF stock. Simplex Trading LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,956 shares of the company’s stock, valued at approximately $533,000. Simplex Trading LLC owned approximately 0.09% of GraniteShares 2x Long COIN Daily ETF at the end of the most recent quarter.

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.