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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up prior to trading on Friday . The stock had previously closed at $20.76, but opened at $22.07. GraniteShares 2x Long COIN Daily ETF shares last traded at $22.6780, with a volume of 3,330,440 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The firm has a 50 day simple moving average of $33.31 and a two-hundred day simple moving average of $35.87.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

Several hedge funds have recently modified their holdings of CONL. IFP Advisors Inc purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at $28,000. Headlands Technologies LLC boosted its stake in GraniteShares 2x Long COIN Daily ETF by 2,654.7% in the first quarter. Headlands Technologies LLC now owns 3,223 shares of the company’s stock valued at $45,000 after acquiring an additional 3,106 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 2nd quarter valued at approximately $293,000. XTX Topco Ltd bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at approximately $143,000. Finally, Scientech Research LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $388,000.

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.