GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 22.5% Higher – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price shot up 22.5% during mid-day trading on Wednesday . The company traded as high as $5.29 and last traded at $5.23. Approximately 18,612,869 shares changed hands during trading, an increase of 2% from the average daily volume of 18,173,709 shares. The stock had previously closed at $4.27.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business’s 50 day simple moving average is $6.78 and its two-hundred day simple moving average is $9.45.

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

Several large investors have recently added to or reduced their stakes in CONL. Jump Financial LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the second quarter worth $1,248,000. Peapack Gladstone Financial Corp purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the second quarter valued at $293,000. UBS Group AG lifted its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 64.8% in the 3rd quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock worth $72,982,000 after acquiring an additional 767,632 shares during the last quarter. Scientech Research LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $388,000. Finally, Austin Wealth Management LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $662,000.

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.