GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Down 13.6% – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares fell 13.6% on Thursday . The company traded as low as $24.21 and last traded at $24.3430. 4,115,293 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 6,567,789 shares. The stock had previously closed at $28.19.

GraniteShares 2x Long COIN Daily ETF Stock Down 13.9%

The stock’s 50 day simple moving average is $36.35 and its 200 day simple moving average is $35.79.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG raised its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 64.8% during the 3rd quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock valued at $72,982,000 after buying an additional 767,632 shares in the last quarter. 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 acquiring an additional 314,355 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter worth approximately $905,000. SBI Securities Co. Ltd. boosted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 12.3% in the 3rd 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. Finally, Sloy Dahl & Holst LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $426,000.

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.