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

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up prior to trading on Thursday . The stock had previously closed at $5.92, but opened at $6.21. GraniteShares 2x Long COIN Daily ETF shares last traded at $6.32, with a volume of 9,719,856 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The stock’s 50 day moving average price is $4.89 and its two-hundred day moving average price is $6.69.

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

A number of large investors have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth $44,000. Parallel Advisors LLC lifted its position in shares of 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 in the last quarter. Group One Trading LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at $78,000. NewEdge Advisors LLC boosted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 58.0% during the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock valued at $113,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Flagstar Advisors Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth 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.