GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Up 6.9% – Time to Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares were up 6.9% during mid-day trading on Monday . The company traded as high as $5.17 and last traded at $5.13. 10,123,379 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 18,147,648 shares. The stock had previously closed at $4.80.

GraniteShares 2x Long COIN Daily ETF Trading Down 4.2%

The business has a fifty day moving average price of $5.88 and a two-hundred day moving average price of $8.39.

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

Several institutional investors and hedge funds have recently bought and sold shares of CONL. Jump Financial LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 2nd quarter valued at about $1,248,000. Peapack Gladstone Financial Corp purchased a new position in GraniteShares 2x Long COIN Daily ETF during the second quarter valued at approximately $293,000. UBS Group AG grew its position in GraniteShares 2x Long COIN Daily ETF by 64.8% during the third quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock valued at $72,982,000 after purchasing an additional 767,632 shares in the last quarter. Scientech Research LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at approximately $388,000. Finally, Austin Wealth Management LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at approximately $662,000.

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.