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

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down prior to trading on Monday . The stock had previously closed at $8.15, but opened at $7.73. GraniteShares 2x Long COIN Daily ETF shares last traded at $7.91, with a volume of 6,645,571 shares.

GraniteShares 2x Long COIN Daily ETF Stock Down 8.5%

The company has a fifty day moving average of $8.40 and a 200-day moving average of $14.02.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $44,000. SBI Securities Co. Ltd. lifted its holdings in GraniteShares 2x Long COIN Daily ETF by 12.3% in 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 during the last quarter. Parallel Advisors LLC lifted its holdings 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 acquiring an additional 5,300 shares during the last quarter. Group One Trading LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $78,000. Finally, Peapack Gladstone Financial Corp acquired a new position in GraniteShares 2x Long COIN Daily ETF in the second quarter valued at approximately $293,000.

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.