GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Short Interest Down 10.9% in October

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 5,220,000 shares, a decline of 10.9% from the October 15th total of 5,860,000 shares. Based on an average daily trading volume, of 6,761,800 shares, the days-to-cover ratio is presently 0.8 days.

GraniteShares 2x Long COIN Daily ETF Trading Up 12.3 %

Shares of NASDAQ:CONL traded up $7.24 during midday trading on Monday, reaching $66.34. 20,625,717 shares of the company’s stock traded hands, compared to its average volume of 3,842,005. The company has a fifty day simple moving average of $30.04 and a two-hundred day simple moving average of $39.30. GraniteShares 2x Long COIN Daily ETF has a 1 year low of $15.25 and a 1 year high of $87.37.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter valued at approximately $8,079,000. IMC Chicago LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter worth approximately $2,412,000. Finally, SG Americas Securities LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at $122,000.

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.