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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up before the market opened on Friday . The stock had previously closed at $34.75, but opened at $37.50. GraniteShares 2x Long COIN Daily ETF shares last traded at $36.11, with a volume of 3,448,203 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The firm has a 50-day moving average price of $42.43 and a 200-day moving average price of $38.46.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of large investors have recently made changes to their positions in CONL. SG Americas Securities LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the third quarter valued at $122,000. JPMorgan Chase & Co. bought a new stake in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at about $836,000. Optiver Holding B.V. lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 545.6% during the 4th quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock valued at $991,000 after buying an additional 23,729 shares in the last quarter. Prosperity Wealth Management Inc. purchased a new position in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at approximately $1,314,000. Finally, Simplex Trading LLC lifted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 362.9% during the 4th quarter. Simplex Trading LLC now owns 41,634 shares of the company’s stock valued at $1,469,000 after buying an additional 32,639 shares in the last quarter.

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.