GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Should You Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up prior to trading on Wednesday . The stock had previously closed at $5.57, but opened at $5.91. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.5690, with a volume of 5,097,935 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business’s 50-day moving average is $5.09 and its two-hundred day moving average is $6.61.

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

Several institutional investors have recently made changes to their positions in CONL. Summit Securities Group LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $44,000. Group One Trading LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth $78,000. Peapack Gladstone Financial Corp acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the second quarter worth $293,000. Parallel Advisors LLC increased its position in GraniteShares 2x Long COIN Daily ETF by 353.3% in the first quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock worth $48,000 after buying an additional 5,300 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at $149,000.

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.