GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Down 7.3% – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares dropped 7.3% on Wednesday . The stock traded as low as $30.61 and last traded at $30.70. Approximately 3,248,770 shares changed hands during trading, an increase of 16% from the average daily volume of 2,808,247 shares. The stock had previously closed at $33.10.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The company’s fifty day simple moving average is $26.27 and its two-hundred day simple moving average is $41.08.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

An institutional investor recently bought a new position in GraniteShares 2x Long COIN Daily ETF stock. SG Americas Securities LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,900 shares of the company’s stock, valued at approximately $122,000.

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.