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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped up before the market opened on Thursday . The stock had previously closed at $40.69, but opened at $43.50. GraniteShares 2x Long COIN Daily ETF shares last traded at $45.55, with a volume of 2,315,514 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Trading Down 16.0 %

The business’s fifty day moving average price is $45.23 and its two-hundred day moving average price is $38.63.

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

Several hedge funds have recently added to or reduced their stakes in CONL. Citigroup Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $8,079,000. Drive Wealth Management LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at $7,614,000. IMC Chicago LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $2,412,000. SBI Securities Co. Ltd. purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at $2,268,000. Finally, Prosperity Wealth Management Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at $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.