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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,340,000 shares, a drop of 15.4% from the February 28th total of 3,950,000 shares. Currently, 14.2% of the company’s stock are short sold. Based on an average daily volume of 5,874,700 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at about $836,000. Optiver Holding B.V. lifted its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 545.6% during the fourth quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock valued at $991,000 after purchasing an additional 23,729 shares during the last quarter. Simplex Trading LLC boosted its position in shares of GraniteShares 2x Long COIN Daily ETF by 362.9% in the 4th quarter. Simplex Trading LLC now owns 41,634 shares of the company’s stock worth $1,469,000 after purchasing an additional 32,639 shares in the last quarter. Prosperity Wealth Management Inc. purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth approximately $1,314,000. Finally, SBI Securities Co. Ltd. bought a new position in GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at approximately $2,268,000.

GraniteShares 2x Long COIN Daily ETF Trading Up 9.2 %

Shares of NASDAQ CONL traded up $1.30 during mid-day trading on Wednesday, hitting $15.50. 4,004,424 shares of the stock traded hands, compared to its average volume of 5,542,570. The stock has a fifty day moving average price of $29.75 and a 200-day moving average price of $36.86. GraniteShares 2x Long COIN Daily ETF has a 52 week low of $12.45 and a 52 week high of $74.50.

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.