Short Interest in GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) Drops By 93.4%

GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 11,808 shares, a drop of 93.4% from the May 14th total of 179,697 shares. Based on an average daily volume of 153,584 shares, the short-interest ratio is presently 0.1 days. Currently, 3.1% of the shares of the company are sold short.

GraniteShares 2x Short COIN Daily ETF Stock Performance

Shares of CONI stock traded down $4.75 on Thursday, hitting $55.93. The company had a trading volume of 81,224 shares, compared to its average volume of 227,507. The company has a 50-day moving average price of $49.55 and a 200-day moving average price of $60.71. GraniteShares 2x Short COIN Daily ETF has a twelve month low of $28.40 and a twelve month high of $141.65.

Institutional Trading of GraniteShares 2x Short COIN Daily ETF

A number of hedge funds have recently added to or reduced their stakes in CONI. HRT Financial LP purchased a new position in GraniteShares 2x Short COIN Daily ETF in the fourth quarter valued at $212,000. StoneX Group Inc. purchased a new stake in shares of GraniteShares 2x Short COIN Daily ETF during the 2nd quarter worth about $40,000. SBI Securities Co. Ltd. grew its position in shares of GraniteShares 2x Short COIN Daily ETF by 72.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 735 shares of the company’s stock valued at $50,000 after acquiring an additional 309 shares during the period. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Short COIN Daily ETF in the 1st quarter valued at about $350,000. Finally, Group One Trading LLC increased its stake in shares of GraniteShares 2x Short COIN Daily ETF by 295.5% in the 2nd quarter. Group One Trading LLC now owns 17,400 shares of the company’s stock valued at $42,000 after purchasing an additional 13,000 shares in the last quarter.

About GraniteShares 2x Short COIN Daily ETF

The GraniteShares 1x Short COIN Daily ETF (CONI) is an exchange-traded fund that mostly invests in financials equity. The fund provides 1x inverse exposure, less fees and expenses, to the daily price movement for shares of Coinbase Global, Inc stock. CONI was launched on Sep 3, 2024 and is issued by GraniteShares.