GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Down 5.8% – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price fell 5.8% during trading on Friday . The stock traded as low as $7.48 and last traded at $7.50. 6,828,533 shares traded hands during trading, a decline of 61% from the average session volume of 17,497,375 shares. The stock had previously closed at $7.96.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The firm’s 50 day moving average is $8.26 and its 200 day moving average is $13.19.

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

Several hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at approximately $44,000. SBI Securities Co. Ltd. grew its stake in GraniteShares 2x Long COIN Daily ETF by 12.3% during the third quarter. SBI Securities Co. Ltd. now owns 41,273 shares of the company’s stock valued at $1,544,000 after acquiring an additional 4,526 shares in the last quarter. Parallel Advisors LLC grew its stake in GraniteShares 2x Long COIN Daily ETF by 353.3% during the first quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after acquiring an additional 5,300 shares in the last quarter. Group One Trading LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at approximately $78,000. Finally, NewEdge Advisors LLC lifted its position in GraniteShares 2x Long COIN Daily ETF by 58.0% during the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock valued at $113,000 after purchasing an additional 5,900 shares during the last quarter.

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.