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

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down prior to trading on Monday . The stock had previously closed at $37.59, but opened at $34.06. GraniteShares 2x Long COIN Daily ETF shares last traded at $34.30, with a volume of 1,145,451 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 3.2 %

The stock’s fifty day moving average price is $50.89 and its 200-day moving average price is $39.31.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $122,000. IMC Chicago LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $2,412,000. Finally, Citigroup Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF during the third quarter worth $8,079,000.

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.