GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up prior to trading on Wednesday . The stock had previously closed at $8.55, but opened at $9.31. GraniteShares 2x Long COIN Daily ETF shares last traded at $9.69, with a volume of 6,695,323 shares traded.

GraniteShares 2x Long COIN Daily ETF Trading Up 12.9%

The stock’s fifty day moving average price is $7.96 and its 200-day moving average price is $17.55.

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

A number of large investors have recently made changes to their positions in CONL. Jump Financial LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the second quarter valued at approximately $1,248,000. Peapack Gladstone Financial Corp purchased a new position in GraniteShares 2x Long COIN Daily ETF during the second quarter valued at approximately $293,000. SBI Securities Co. Ltd. grew its position in GraniteShares 2x Long COIN Daily ETF by 12.3% during the third quarter. SBI Securities Co. Ltd. now owns 41,273 shares of the company’s stock valued at $1,544,000 after purchasing an additional 4,526 shares in the last quarter. Stevens Capital Management LP purchased a new position in GraniteShares 2x Long COIN Daily ETF during the third quarter valued at approximately $905,000. Finally, Citigroup Inc. grew its position in GraniteShares 2x Long COIN Daily ETF by 11.6% during the third quarter. Citigroup Inc. now owns 3,014,355 shares of the company’s stock valued at $112,737,000 after purchasing an additional 314,355 shares in the last quarter.

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.