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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped down prior to trading on Friday . The stock had previously closed at $47.48, but opened at $44.11. GraniteShares 2x Long COIN Daily ETF shares last traded at $41.27, with a volume of 5,125,766 shares traded.

GraniteShares 2x Long COIN Daily ETF Stock Down 13.3 %

The company has a fifty day moving average of $45.23 and a two-hundred day moving average of $38.63.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth approximately $122,000. JPMorgan Chase & Co. bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth approximately $836,000. Simplex Trading LLC increased its position in GraniteShares 2x Long COIN Daily ETF by 362.9% in the 4th quarter. Simplex Trading LLC now owns 41,634 shares of the company’s stock worth $1,469,000 after buying an additional 32,639 shares during the period. Prosperity Wealth Management Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth approximately $1,314,000. Finally, SBI Securities Co. Ltd. bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth approximately $2,268,000.

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.