GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 12.1% Higher – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price rose 12.1% on Wednesday . The stock traded as high as $41.63 and last traded at $40.92. Approximately 2,365,747 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 4,911,645 shares. The stock had previously closed at $36.50.

GraniteShares 2x Long COIN Daily ETF Stock Up 4.8 %

The firm’s 50 day moving average price is $50.87 and its two-hundred day moving average price is $39.36.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CONL. SG Americas Securities LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $122,000. IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth about $2,412,000. Finally, Citigroup Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at about $8,079,000.

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.