GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Up 10.4% – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price rose 10.4% during trading on Friday . The stock traded as high as $5.44 and last traded at $5.6750. 4,643,007 shares were traded during trading, a decline of 75% from the average daily volume of 18,778,734 shares. The stock had previously closed at $5.14.

GraniteShares 2x Long COIN Daily ETF Stock Up 6.5%

The company has a 50 day moving average price of $5.09 and a two-hundred day moving average price of $6.61.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought 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 acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the 2nd quarter worth approximately $293,000. UBS Group AG grew its holdings in shares of 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 buying an additional 767,632 shares during the last quarter. Scientech Research LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at approximately $388,000. Finally, Crescent Grove Advisors LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at $238,000.

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.