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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped up before the market opened on Tuesday . The stock had previously closed at $37.41, but opened at $39.55. GraniteShares 2x Long COIN Daily ETF shares last traded at $37.60, with a volume of 1,149,710 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Down 5.7 %

The business’s fifty day simple moving average is $49.14 and its 200-day simple moving average is $39.94.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CONL. Citigroup Inc. purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $8,079,000. IMC Chicago LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter worth $2,412,000. Finally, SG Americas Securities LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter worth $122,000.

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.