GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 9.5% – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price fell 9.5% on Monday . The stock traded as low as $6.51 and last traded at $6.79. 8,701,569 shares were traded during mid-day trading, a decline of 51% from the average session volume of 17,602,709 shares. The stock had previously closed at $7.50.

GraniteShares 2x Long COIN Daily ETF Stock Down 3.6%

The firm’s fifty day moving average is $7.95 and its two-hundred day moving average is $12.21.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several large investors have recently added to or reduced their stakes in CONL. Jump Financial LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF in the second quarter valued at $1,248,000. Peapack Gladstone Financial Corp purchased a new position in GraniteShares 2x Long COIN Daily ETF during the second quarter valued at $293,000. SBI Securities Co. Ltd. lifted its position in GraniteShares 2x Long COIN Daily ETF by 12.3% during the third quarter. SBI Securities Co. Ltd. now owns 41,273 shares of the company’s stock valued at $1,544,000 after buying an additional 4,526 shares during the period. Stevens Capital Management LP purchased a new position in GraniteShares 2x Long COIN Daily ETF during the third quarter valued at $905,000. Finally, Citigroup Inc. lifted its position in GraniteShares 2x Long COIN Daily ETF by 11.6% during the third quarter. Citigroup Inc. now owns 3,014,355 shares of the company’s stock valued at $112,737,000 after buying an additional 314,355 shares during the period.

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.