GraniteShares 2x Long IONQ Daily ETF (NASDAQ:IONL) Trading 0.4% Higher – Still a Buy?

Shares of GraniteShares 2x Long IONQ Daily ETF (NASDAQ:IONL) rose 0.4% during trading on Thursday . The company traded as high as $16.04 and last traded at $15.98. Approximately 387,027 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 418,075 shares. The stock had previously closed at $15.91.

GraniteShares 2x Long IONQ Daily ETF Trading Down 9.2%

The company’s 50-day moving average price is $31.32 and its two-hundred day moving average price is $53.07.

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

Hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of GraniteShares 2x Long IONQ Daily ETF during the 2nd quarter valued at about $35,000. Group One Trading LLC bought a new stake in GraniteShares 2x Long IONQ Daily ETF in the 4th quarter worth approximately $80,000. Finally, Susquehanna International Group LLP boosted its stake in GraniteShares 2x Long IONQ Daily ETF by 159.3% in the third quarter. Susquehanna International Group LLP now owns 16,402 shares of the company’s stock worth $1,377,000 after buying an additional 10,077 shares in the last quarter.

About GraniteShares 2x Long IONQ Daily ETF

The Graniteshares ETF Trust – 2X Long IONQ Daily ETF (IONL) is an exchange-traded fund that trades on the NASDAQ exchange in the United States.