GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 9.6% Higher – Time to Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) traded up 9.6% on Thursday . The company traded as high as $39.26 and last traded at $38.67. 2,305,421 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,394,288 shares. The stock had previously closed at $35.29.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The firm has a 50-day moving average price of $49.14 and a 200-day moving average price of $39.94.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Citigroup Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF during the third quarter worth about $8,079,000. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $2,412,000. Finally, SG Americas Securities LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth about $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.