GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up before the market opened on Monday . The stock had previously closed at $6.74, but opened at $7.02. GraniteShares 2x Long COIN Daily ETF shares last traded at $7.16, with a volume of 8,313,233 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 3.4%

The stock’s 50 day moving average price is $8.31 and its two-hundred day moving average price is $20.07.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth about $44,000. Group One Trading LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth approximately $78,000. NewEdge Advisors LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $149,000. Crescent Grove Advisors LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $238,000. Finally, Simplex Trading LLC increased its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 1,390.9% during the 4th quarter. Simplex Trading LLC now owns 19,427 shares of the company’s stock valued at $285,000 after purchasing an additional 18,124 shares in the last quarter.

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.