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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $26.89, but opened at $25.20. GraniteShares 2x Long COIN Daily ETF shares last traded at $22.61, with a volume of 2,889,546 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The company has a fifty day moving average of $41.79 and a two-hundred day moving average of $38.55.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several hedge funds and other institutional investors have recently bought and sold shares of CONL. JPMorgan Chase & Co. bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth approximately $836,000. Optiver Holding B.V. increased its stake in GraniteShares 2x Long COIN Daily ETF by 545.6% during the 4th quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock worth $991,000 after acquiring an additional 23,729 shares during the period. Prosperity Wealth Management Inc. acquired a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at $1,314,000. Simplex Trading LLC lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 362.9% during the 4th quarter. Simplex Trading LLC now owns 41,634 shares of the company’s stock valued at $1,469,000 after acquiring an additional 32,639 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth $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.