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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,240,000 shares, a growth of 63.5% from the July 15th total of 1,370,000 shares. Based on an average daily volume of 2,942,400 shares, the days-to-cover ratio is currently 0.8 days.

GraniteShares 2x Long COIN Daily ETF Stock Performance

Shares of CONL stock traded up $2.24 during mid-day trading on Friday, reaching $34.88. 2,146,358 shares of the stock traded hands, compared to its average volume of 2,086,245. The stock’s fifty day simple moving average is $46.36 and its two-hundred day simple moving average is $49.39. GraniteShares 2x Long COIN Daily ETF has a 1-year low of $9.14 and a 1-year high of $87.37.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. APEIRON CAPITAL Ltd bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the first quarter valued at $10,224,000. IMC Chicago LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at approximately $451,000. Finally, Simplex Trading LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth about $533,000.

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.