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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down prior to trading on Tuesday . The stock had previously closed at $5.77, but opened at $5.56. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.59, with a volume of 7,800,709 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 7.6%

The company’s fifty day moving average is $4.87 and its 200 day moving average is $6.70.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

Large investors have recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth 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 worth $48,000 after purchasing an additional 5,300 shares in the last quarter. Group One Trading LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth about $78,000. NewEdge Advisors LLC boosted its stake in GraniteShares 2x Long COIN Daily ETF by 58.0% in the 1st 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, Peapack Gladstone Financial Corp purchased a new position in GraniteShares 2x Long COIN Daily ETF during the 2nd quarter valued at about $293,000.

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.