GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 3.1% – Should You Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price dropped 3.1% on Tuesday . The stock traded as low as $45.15 and last traded at $45.52. Approximately 861,761 shares traded hands during trading, a decline of 80% from the average daily volume of 4,249,886 shares. The stock had previously closed at $46.96.

GraniteShares 2x Long COIN Daily ETF Trading Down 3.3 %

The firm has a 50-day moving average of $49.89 and a two-hundred day moving average of $39.55.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter worth $122,000. IMC Chicago LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at about $2,412,000. Finally, Citigroup Inc. acquired a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $8,079,000.

About GraniteShares 2x Long COIN Daily ETF

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.