GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Short Interest Down 50.6% in July

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

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

A number of hedge funds have recently added to or reduced their stakes in CONL. Summit Securities Group LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth about $44,000. Parallel Advisors LLC boosted its stake in GraniteShares 2x Long COIN Daily ETF by 353.3% during the 1st quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after purchasing an additional 5,300 shares during the period. Group One Trading LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at about $78,000. NewEdge Advisors LLC grew its position in GraniteShares 2x Long COIN Daily ETF by 58.0% in the 1st quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock worth $113,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Peapack Gladstone Financial Corp bought a new position in GraniteShares 2x Long COIN Daily ETF in the 2nd quarter worth about $293,000.

GraniteShares 2x Long COIN Daily ETF Trading Up 0.4%

Shares of NASDAQ CONL traded up $0.02 during mid-day trading on Tuesday, hitting $5.36. The company had a trading volume of 9,332,757 shares, compared to its average volume of 18,074,328. GraniteShares 2x Long COIN Daily ETF has a 12 month low of $3.88 and a 12 month high of $55.00. The firm’s 50 day simple moving average is $5.60 and its two-hundred day simple moving average is $8.07.

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.