GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up prior to trading on Thursday . The stock had previously closed at $5.02, but opened at $5.38. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.73, with a volume of 10,001,298 shares.

GraniteShares 2x Long COIN Daily ETF Trading Up 10.6%

The stock has a 50 day moving average of $6.85 and a 200-day moving average of $9.56.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth $44,000. Parallel Advisors LLC grew 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 purchasing an additional 5,300 shares during the last quarter. Group One Trading LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth about $78,000. NewEdge Advisors LLC increased 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 buying an additional 5,900 shares during the period. Finally, Flagstar Advisors Inc. purchased a new position in GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth about $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.