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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $18.45, but opened at $17.70. GraniteShares 2x Long COIN Daily ETF shares last traded at $17.2020, with a volume of 1,882,447 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 1.3%

The business has a fifty day moving average of $19.38 and a two-hundred day moving average of $32.91.

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

Institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in shares of GraniteShares 2x Long COIN Daily ETF by 285.7% during the second quarter. Citigroup Inc. now owns 2,700,000 shares of the company’s stock worth $124,551,000 after purchasing an additional 2,000,000 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in GraniteShares 2x Long COIN Daily ETF by 12.3% in the 3rd 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 in the last quarter. Sloy Dahl & Holst LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $426,000. GatePass Capital LLC increased its stake in GraniteShares 2x Long COIN Daily ETF by 22.7% during the 2nd quarter. GatePass Capital LLC now owns 20,264 shares of the company’s stock worth $935,000 after buying an additional 3,746 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the second quarter valued at approximately $604,000.

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.