GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Sees Unusually-High Trading Volume – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares saw unusually-high trading volume on Monday . 17,046,122 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 19,383,600 shares.The stock last traded at $6.9040 and had previously closed at $6.27.

GraniteShares 2x Long COIN Daily ETF Trading Up 10.4%

The stock has a fifty day moving average of $5.12 and a 200-day moving average of $6.52.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Parallel Advisors LLC increased its position in GraniteShares 2x Long COIN Daily ETF by 353.3% during the 1st quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock worth $48,000 after purchasing an additional 5,300 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 58.0% during the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock worth $113,000 after buying an additional 5,900 shares in the last quarter. Optiver Holding B.V. increased its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 232.2% during the first quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock worth $906,000 after buying an additional 90,448 shares in the last quarter. Group One Trading LLC lifted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% in the 1st quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock valued at $198,000 after acquiring an additional 22,965 shares during the last quarter. Finally, IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter valued at $814,000.

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.