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

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up before the market opened on Wednesday . The stock had previously closed at $65.89, but opened at $69.07. GraniteShares 2x Long COIN Daily ETF shares last traded at $62.84, with a volume of 8,125,942 shares.

GraniteShares 2x Long COIN Daily ETF Price Performance

The firm’s 50-day moving average price is $32.78 and its 200-day moving average price is $39.68.

Institutional Trading of 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 worth about $8,079,000. IMC Chicago LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth approximately $2,412,000. Finally, SG Americas Securities LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter valued at $122,000.

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.