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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up before the market opened on Friday . The stock had previously closed at $34.75, but opened at $37.50. GraniteShares 2x Long COIN Daily ETF shares last traded at $36.11, with a volume of 3,448,203 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The firm’s fifty day moving average price is $42.99 and its 200 day moving average price is $38.47.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth $122,000. JPMorgan Chase & Co. purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at $836,000. Optiver Holding B.V. increased its stake in shares of GraniteShares 2x Long COIN Daily ETF by 545.6% in the fourth quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock worth $991,000 after acquiring an additional 23,729 shares during the period. Simplex Trading LLC boosted its holdings in GraniteShares 2x Long COIN Daily ETF by 362.9% in the fourth quarter. Simplex Trading LLC now owns 41,634 shares of the company’s stock valued at $1,469,000 after purchasing an additional 32,639 shares during the last quarter. Finally, Prosperity Wealth Management Inc. acquired a new stake in GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth about $1,314,000.

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.