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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $4.92, but opened at $5.43. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.31, with a volume of 6,915,754 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The stock’s 50-day simple moving average is $6.43 and its two-hundred day simple moving average is $9.02.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CONL. Summit Securities Group LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth $44,000. Parallel Advisors LLC raised its holdings in GraniteShares 2x Long COIN Daily ETF by 353.3% during the first quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after acquiring an additional 5,300 shares during the period. Group One Trading LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at about $78,000. NewEdge Advisors LLC raised its holdings in GraniteShares 2x Long COIN Daily ETF by 58.0% during the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock valued at $113,000 after acquiring an additional 5,900 shares during the period. Finally, Flagstar Advisors Inc. purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter valued at about $189,000.

About GraniteShares 2x Long COIN Daily ETF

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.