GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Down 4.1% – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price fell 4.1% on Friday . The stock traded as low as $40.61 and last traded at $41.58. 1,470,433 shares were traded during mid-day trading, a decline of 66% from the average session volume of 4,380,556 shares. The stock had previously closed at $43.36.

GraniteShares 2x Long COIN Daily ETF Trading Down 6.3 %

The company has a 50 day simple moving average of $48.92 and a 200-day simple moving average of $40.40.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $122,000. IMC Chicago LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter worth about $2,412,000. Finally, Citigroup Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter worth about $8,079,000.

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.