GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $5.77, but opened at $5.56. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.59, with a volume of 7,800,709 shares.

GraniteShares 2x Long COIN Daily ETF Trading Up 7.6%

The company’s 50-day moving average is $4.87 and its two-hundred day moving average is $6.70.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

A number of hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at $44,000. Parallel Advisors LLC lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 353.3% during the 1st quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after buying an additional 5,300 shares during the last quarter. Group One Trading LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth $78,000. NewEdge Advisors LLC increased its holdings 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 acquiring an additional 5,900 shares during the last quarter. Finally, Flagstar Advisors Inc. bought a new stake in GraniteShares 2x Long COIN Daily ETF in the 1st quarter valued at about $189,000.

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.