GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Up 9.6% – Time to Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price rose 9.6% during mid-day trading on Thursday . The stock traded as high as $49.86 and last traded at $50.67. Approximately 775,838 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 5,263,955 shares. The stock had previously closed at $46.22.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business’s 50-day moving average is $48.54 and its 200-day moving average is $39.41.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $122,000. IMC Chicago LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at about $2,412,000. Drive Wealth Management LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth approximately $7,614,000. Finally, Citigroup Inc. purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter valued at 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.