GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $4.80, but opened at $5.09. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.30, with a volume of 3,986,031 shares traded.

GraniteShares 2x Long COIN Daily ETF Trading Up 4.8%

The business has a 50-day simple moving average of $5.65 and a two-hundred day simple moving average of $8.16.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at $44,000. Parallel Advisors LLC lifted its holdings in GraniteShares 2x Long COIN Daily ETF by 353.3% during the 1st quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after purchasing an additional 5,300 shares during the last quarter. Group One Trading LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at $78,000. NewEdge Advisors LLC boosted its position in GraniteShares 2x Long COIN Daily ETF by 58.0% during the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock worth $113,000 after purchasing an additional 5,900 shares during the period. Finally, Flagstar Advisors Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF during the first quarter worth $189,000.

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.