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 increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,240,000 shares, an increase of 63.5% from the July 15th total of 1,370,000 shares. Based on an average daily trading volume, of 2,942,400 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

Several hedge funds and other institutional investors have recently modified their holdings of CONL. APEIRON CAPITAL Ltd purchased a new position in GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth approximately $10,224,000. IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $451,000. Finally, Simplex Trading LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth approximately $533,000.

GraniteShares 2x Long COIN Daily ETF Stock Performance

Shares of CONL stock traded down $1.36 during mid-day trading on Wednesday, hitting $31.51. 1,955,009 shares of the stock traded hands, compared to its average volume of 2,078,715. The stock’s fifty day moving average is $47.51 and its two-hundred day moving average is $49.63. GraniteShares 2x Long COIN Daily ETF has a 52-week low of $9.14 and a 52-week high of $87.37.

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.