GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.39, but opened at $6.14. GraniteShares 2x Long COIN Daily ETF shares last traded at $6.77, with a volume of 11,765,700 shares traded.

GraniteShares 2x Long COIN Daily ETF Price Performance

The stock’s 50 day moving average price is $7.95 and its 200-day moving average price is $12.34.

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

A number of institutional investors have recently bought and sold shares of CONL. UBS Group AG raised its holdings 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 period. Citigroup Inc. boosted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 11.6% in the third quarter. Citigroup Inc. now owns 3,014,355 shares of the company’s stock worth $112,737,000 after acquiring an additional 314,355 shares during the period. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter worth about $814,000. Austin Wealth Management LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth about $662,000. Finally, Renaissance Technologies LLC grew its position in shares of GraniteShares 2x Long COIN Daily ETF by 91.2% during the fourth quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock worth $1,342,000 after purchasing an additional 43,700 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.