Greenlane (NASDAQ:GNLN) Trading Down 4.3% – Here’s What Happened

Greenlane Holdings, Inc. (NASDAQ:GNLN) shares were down 4.3% during trading on Tuesday . The company traded as low as $0.51 and last traded at $0.54. Approximately 238,191 shares changed hands during trading, a decline of 67% from the average daily volume of 728,667 shares. The stock had previously closed at $0.56.

Greenlane Price Performance

The company has a fifty day moving average price of $1.17 and a two-hundred day moving average price of $2.57.

Institutional Investors Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Citadel Advisors LLC purchased a new position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,369 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 1.30% of Greenlane at the end of the most recent reporting period. Institutional investors and hedge funds own 13.96% of the company’s stock.

About Greenlane

Greenlane Holdings, Inc develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers, grinders, and apparel lines, as well as bubblers, rigs, other smoking and vaporization related accessories, and merchandise.