GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Sees Unusually-High Trading Volume – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares saw strong trading volume on Friday . 16,896,431 shares traded hands during mid-day trading, a decline of 9% from the previous session’s volume of 18,637,445 shares.The stock last traded at $6.42 and had previously closed at $5.38.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business’s 50-day simple moving average is $4.85 and its 200-day simple moving average is $6.74.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its stake in GraniteShares 2x Long COIN Daily ETF by 353.3% in the first quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after purchasing an additional 5,300 shares in the last quarter. NewEdge Advisors LLC increased its position in GraniteShares 2x Long COIN Daily ETF by 58.0% in the 1st quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock worth $113,000 after purchasing an additional 5,900 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of GraniteShares 2x Long COIN Daily ETF by 232.2% during the 1st quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock worth $906,000 after purchasing an additional 90,448 shares in the last quarter. Group One Trading LLC raised its stake in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% during the 1st quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock worth $198,000 after purchasing an additional 22,965 shares in the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at about $814,000.

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.