GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $21.85, but opened at $20.76. GraniteShares 2x Long COIN Daily ETF shares last traded at $21.95, with a volume of 4,398,558 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 6.3 %

The stock has a fifty day moving average of $39.44 and a 200-day moving average of $38.23.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth about $8,079,000. SBI Securities Co. Ltd. bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $2,268,000. Drive Wealth Management LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $7,614,000. Optiver Holding B.V. raised its holdings 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 purchasing an additional 23,729 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $836,000.

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.