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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $6.74, but opened at $7.02. GraniteShares 2x Long COIN Daily ETF shares last traded at $7.16, with a volume of 8,313,233 shares.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business’s 50 day moving average price is $8.31 and its 200 day moving average price is $20.07.

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

Several hedge funds and other institutional investors have recently made changes to their positions in CONL. NewEdge Advisors LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth approximately $149,000. Summit Securities Group LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at $44,000. HRT Financial LP boosted its stake in GraniteShares 2x Long COIN Daily ETF by 165.2% during the 4th quarter. HRT Financial LP now owns 38,071 shares of the company’s stock worth $557,000 after purchasing an additional 23,716 shares during the last quarter. Renaissance Technologies LLC boosted its stake in GraniteShares 2x Long COIN Daily ETF by 91.2% during the 4th quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock worth $1,342,000 after purchasing an additional 43,700 shares during the last quarter. Finally, Group One Trading LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth $78,000.

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.