GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Here’s Why

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down prior to trading on Tuesday . The stock had previously closed at $60.15, but opened at $55.07. GraniteShares 2x Long COIN Daily ETF shares last traded at $58.06, with a volume of 2,640,828 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 11.7 %

The stock has a 50 day simple moving average of $36.34 and a 200 day simple moving average of $40.07.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. acquired a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at approximately $8,079,000. IMC Chicago LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at approximately $2,412,000. Finally, SG Americas Securities LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at approximately $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.