GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $66.47, but opened at $71.44. GraniteShares 2x Long COIN Daily ETF shares last traded at $70.59, with a volume of 3,446,166 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business has a 50-day moving average of $39.92 and a 200 day moving average of $40.65.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $122,000. IMC Chicago LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $2,412,000. Finally, Citigroup Inc. bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $8,079,000.

GraniteShares 2x Long COIN Daily ETF Company Profile

The GraniteShares 1.5x Long Coinbase Daily ETF (CONL) is an exchange-traded fund that mostly invests in financials equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Coinbase stock. CONL was launched on Aug 9, 2022 and is managed by GraniteShares.