GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Up 6.9% – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares were up 6.9% during trading on Monday . The stock traded as high as $5.17 and last traded at $5.13. Approximately 10,123,379 shares changed hands during trading, a decline of 44% from the average daily volume of 18,147,648 shares. The stock had previously closed at $4.80.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business has a 50-day simple moving average of $6.05 and a 200 day simple moving average of $8.53.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG boosted its position in GraniteShares 2x Long COIN Daily ETF by 64.8% during the third quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock valued at $72,982,000 after acquiring an additional 767,632 shares during the last quarter. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth about $814,000. Optiver Holding B.V. lifted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 232.2% in the 1st quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock valued at $906,000 after purchasing an additional 90,448 shares during the period. Austin Wealth Management LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at about $662,000. Finally, Renaissance Technologies LLC lifted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 91.2% in the 4th quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock valued at $1,342,000 after purchasing an additional 43,700 shares during the period.

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.