GraniteShares 2x Long COIN Daily ETF Sees Unusually Large Options Volume (NASDAQ:CONL)

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) was the target of unusually large options trading on Monday. Stock investors bought 13,392 call options on the company. This represents an increase of approximately 31% compared to the typical volume of 10,189 call options.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake 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 worth $48,000 after purchasing an additional 5,300 shares during the last quarter. NewEdge Advisors LLC grew its holdings in 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 worth $113,000 after acquiring an additional 5,900 shares during the period. Optiver Holding B.V. grew its holdings in GraniteShares 2x Long COIN Daily ETF by 232.2% during the first quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock worth $906,000 after acquiring an additional 90,448 shares during the period. Group One Trading LLC grew its stake in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% during the 1st quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock worth $198,000 after purchasing an additional 22,965 shares during the period. Finally, IMC Chicago LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter valued at $814,000.

GraniteShares 2x Long COIN Daily ETF Stock Up 9.3%

Shares of CONL stock traded up $0.58 on Monday, hitting $6.85. 28,852,767 shares of the stock traded hands, compared to its average volume of 19,446,820. GraniteShares 2x Long COIN Daily ETF has a 52 week low of $3.56 and a 52 week high of $52.40. The firm has a 50 day simple moving average of $5.12 and a two-hundred day simple moving average of $6.52.

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.