GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI) Stock Falls 0.1% – Should You Sell?

GraniteShares 2x Short COIN Daily ETF (NASDAQ:CONI)’s stock price were down 0.1% during trading on Tuesday. The stock traded as low as $20.53 and last traded at $20.94. Approximately 518,937 shares traded hands during mid-day trading, an increase of 117% from the average daily volume of 239,097 shares. The stock had previously closed at $20.96.

GraniteShares 2x Short COIN Daily ETF Stock Down 1.3%

The company’s fifty day simple moving average is $39.16 and its two-hundred day simple moving average is $47.36.

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

A number of hedge funds have recently modified their holdings of CONI. Group One Trading LLC raised its holdings in GraniteShares 2x Short COIN Daily ETF by 1,422.5% during the 1st quarter. Group One Trading LLC now owns 609 shares of the company’s stock worth $37,000 after buying an additional 569 shares during the period. IMC Chicago LLC bought a new position in GraniteShares 2x Short COIN Daily ETF in the first quarter valued at approximately $350,000. Finally, Optiver Holding B.V. boosted its holdings in shares of 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 buying an additional 14,702 shares during the period.

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.