GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Up 5.1% – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares shot up 5.1% on Tuesday . The company traded as high as $25.75 and last traded at $25.74. 1,539,862 shares changed hands during trading, a decline of 76% from the average session volume of 6,335,204 shares. The stock had previously closed at $24.50.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business’s 50 day moving average is $18.86 and its two-hundred day moving average is $32.99.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several hedge funds have recently bought and sold shares of CONL. IFP Advisors Inc bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth about $28,000. Headlands Technologies LLC grew its stake in shares of GraniteShares 2x Long COIN Daily ETF by 2,654.7% during the first quarter. Headlands Technologies LLC now owns 3,223 shares of the company’s stock valued at $45,000 after buying an additional 3,106 shares during the last quarter. XTX Topco Ltd bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the first quarter valued at approximately $143,000. JPMorgan Chase & Co. bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at approximately $836,000. Finally, Optiver Holding B.V. boosted its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 545.6% in the fourth quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock valued at $991,000 after purchasing an additional 23,729 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.