GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) Sees Large Growth in Short Interest
by Mitch Edgeman · The Markets DailyGraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI – Get Free Report) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 19,201 shares, an increase of 66.4% from the March 15th total of 11,537 shares. Approximately 8.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 241,209 shares, the days-to-cover ratio is currently 0.1 days.
GraniteShares 2x Short COIN Daily ETF Trading Down 11.9%
Shares of CONI stock traded down $7.29 during trading hours on Tuesday, hitting $53.85. 65,935 shares of the company’s stock were exchanged, compared to its average volume of 223,138. The firm has a 50 day moving average of $73.36 and a two-hundred day moving average of $59.26. GraniteShares 2x Short COIN Daily ETF has a fifty-two week low of $28.40 and a fifty-two week high of $293.59.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in CONI. Jump Financial LLC acquired a new position in GraniteShares 2x Short COIN Daily ETF in the 2nd quarter valued at $1,554,000. Jane Street Group LLC raised its stake in GraniteShares 2x Short COIN Daily ETF by 355.6% in the 2nd quarter. Jane Street Group LLC now owns 201,460 shares of the company’s stock valued at $486,000 after purchasing an additional 157,242 shares during the last quarter. Two Sigma Securities LLC acquired a new position in GraniteShares 2x Short COIN Daily ETF in the 2nd quarter valued at $283,000. Flow Traders U.S. LLC acquired a new position in GraniteShares 2x Short COIN Daily ETF in the 2nd quarter valued at $271,000. Finally, Vienna Asset Management LLC acquired a new position in GraniteShares 2x Short COIN Daily ETF in the 2nd quarter valued at $145,000.
GraniteShares 2x Short COIN Daily ETF Company Profile
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.