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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $37.41, but opened at $39.55. GraniteShares 2x Long COIN Daily ETF shares last traded at $37.60, with a volume of 1,149,710 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Down 1.4 %

The business has a fifty day moving average of $48.98 and a two-hundred day moving average of $40.12.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $8,079,000. IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter worth approximately $2,412,000. Finally, SG Americas Securities LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter worth approximately $122,000.

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.