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

Shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) dropped 4.3% on Tuesday . The company traded as low as $0.51 and last traded at $0.54. Approximately 238,191 shares traded 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 Stock Performance

The stock has a 50 day moving average of $1.22 and a 200-day moving average of $2.59.

Hedge Funds Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Citadel Advisors LLC bought a new stake in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,369 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned approximately 1.30% of Greenlane as of its most recent filing with the Securities and Exchange Commission. 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.