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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) saw a large growth in short interest in August. As of August 15th, there was short interest totalling 4,120,000 shares, a growth of 83.9% from the July 31st total of 2,240,000 shares. Based on an average daily trading volume, of 3,027,800 shares, the days-to-cover ratio is currently 1.4 days.

GraniteShares 2x Long COIN Daily ETF Stock Down 8.1 %

Shares of NASDAQ CONL traded down $2.62 during trading hours on Wednesday, reaching $29.80. The stock had a trading volume of 2,696,776 shares, compared to its average volume of 2,130,613. The business’s fifty day moving average price is $42.78 and its two-hundred day moving average price is $50.54. GraniteShares 2x Long COIN Daily ETF has a 52-week low of $9.14 and a 52-week high of $87.37.

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

Several institutional investors have recently made changes to their positions in CONL. APEIRON CAPITAL Ltd bought a new position in GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth about $10,224,000. IMC Chicago LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth approximately $451,000. Finally, Simplex Trading LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth approximately $533,000.

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.