GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) Sees Significant Increase in Short Interest

GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 179,697 shares, a growth of 1,422.0% from the April 30th total of 11,807 shares. Based on an average daily trading volume, of 324,801 shares, the short-interest ratio is currently 0.6 days. Approximately 47.3% of the company’s stock are short sold.

Institutional Investors Weigh In On GraniteShares 2x Short COIN Daily ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Group One Trading LLC increased its position in shares of GraniteShares 2x Short COIN Daily ETF by 1,422.5% in the 1st quarter. Group One Trading LLC now owns 609 shares of the company’s stock worth $37,000 after purchasing an additional 569 shares during the last quarter. StoneX Group Inc. acquired a new position in GraniteShares 2x Short COIN Daily ETF during the 2nd quarter valued at about $40,000. SBI Securities Co. Ltd. boosted its stake in GraniteShares 2x Short COIN Daily ETF by 72.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 735 shares of the company’s stock valued at $50,000 after purchasing an additional 309 shares during the period. Vienna Asset Management LLC acquired a new position in GraniteShares 2x Short COIN Daily ETF during the 2nd quarter valued at about $145,000. Finally, HRT Financial LP acquired a new stake in shares of GraniteShares 2x Short COIN Daily ETF in the 4th quarter worth approximately $212,000.

GraniteShares 2x Short COIN Daily ETF Price Performance

Shares of CONI traded down $3.64 during midday trading on Friday, hitting $42.61. The company had a trading volume of 148,761 shares, compared to its average volume of 233,580. The company’s 50 day moving average price is $50.59 and its 200 day moving average price is $60.55. GraniteShares 2x Short COIN Daily ETF has a 52 week low of $28.40 and a 52 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.