GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped down before the market opened on Thursday. The stock had previously closed at $4.88, but opened at $4.57. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.0180, with a volume of 7,261,961 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 7.7%

The stock has a fifty day moving average of $5.44 and a 200 day moving average of $6.09.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

Institutional investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter valued at approximately $69,000. Parallel Advisors LLC lifted its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 353.3% in the first quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock worth $48,000 after buying an additional 5,300 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 58.0% in the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock worth $113,000 after buying an additional 5,900 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 232.2% in the first quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock worth $906,000 after buying an additional 90,448 shares in the last quarter. Finally, Group One Trading LLC boosted its position in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% during the first quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock worth $198,000 after acquiring an additional 22,965 shares during the last quarter.

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.