GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) Sees Large Decline in Short Interest

GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) was the recipient of a significant drop in short interest in 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. Currently, 3.1% of the company’s stock are short sold. Based on an average trading volume of 153,584 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of GraniteShares 2x Short COIN Daily ETF

Several hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. raised its holdings in GraniteShares 2x Short COIN Daily ETF by 506.6% in the first quarter. Optiver Holding B.V. now owns 17,604 shares of the company’s stock valued at $1,083,000 after acquiring an additional 14,702 shares in the last quarter. Group One Trading LLC raised its holdings in GraniteShares 2x Short COIN Daily ETF by 1,422.5% in the first quarter. Group One Trading LLC now owns 609 shares of the company’s stock valued at $37,000 after acquiring an additional 569 shares in the last quarter. IMC Chicago LLC acquired a new stake in GraniteShares 2x Short COIN Daily ETF in the first quarter valued at approximately $350,000. HRT Financial LP acquired a new stake in GraniteShares 2x Short COIN Daily ETF in the fourth quarter valued at approximately $212,000. Finally, SBI Securities Co. Ltd. raised its holdings in GraniteShares 2x Short COIN Daily ETF by 72.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 735 shares of the company’s stock valued at $50,000 after acquiring an additional 309 shares in the last quarter.

GraniteShares 2x Short COIN Daily ETF Stock Up 8.0%

Shares of NASDAQ:CONI opened at $59.60 on Wednesday. The firm’s 50 day moving average price is $49.83 and its 200 day moving average price is $60.76. GraniteShares 2x Short COIN Daily ETF has a fifty-two week low of $28.40 and a fifty-two week high of $141.65.

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.