GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 10.3% – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price were down 10.3% during mid-day trading on Tuesday . The company traded as low as $9.08 and last traded at $9.10. Approximately 14,902,993 shares were traded during trading, a decline of 12% from the average daily volume of 17,005,139 shares. The stock had previously closed at $10.14.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business has a 50-day moving average of $8.37 and a 200 day moving average of $14.80.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth $44,000. Parallel Advisors LLC grew its position 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 worth $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 in the fourth quarter worth $78,000. NewEdge Advisors LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at about $149,000. Finally, Flagstar Advisors Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the first quarter valued at about $189,000.

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.