Greenlane (NASDAQ:GNLN) Trading Up 3.3% – Here’s Why

Greenlane Holdings, Inc. (NASDAQ:GNLN)’s share price shot up 3.3% during mid-day trading on Wednesday . The stock traded as high as $0.30 and last traded at $0.30. 140,508 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 754,136 shares. The stock had previously closed at $0.29.

Greenlane Trading Up 3.3 %

The stock’s fifty day simple moving average is $0.84 and its two-hundred day simple moving average is $2.08.

Institutional Investors Weigh In On Greenlane

An institutional investor recently bought a new position 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 SEC. The firm purchased 17,369 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 1.30% of Greenlane as of its most recent filing with the SEC. 13.96% of the stock is currently owned by hedge funds and other institutional investors.

Greenlane Company Profile

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.