GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Up 6.9% – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price traded up 6.9% on Monday . The company traded as high as $5.17 and last traded at $5.13. Approximately 10,123,379 shares changed hands during trading, a decline of 44% from the average daily volume of 18,147,648 shares. The stock had previously closed at $4.80.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business has a fifty day moving average of $6.05 and a 200-day moving average of $8.53.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CONL. Summit Securities Group LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $44,000. Parallel Advisors LLC grew 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 worth $48,000 after buying an additional 5,300 shares in the last quarter. Group One Trading LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth $78,000. NewEdge Advisors LLC raised its position 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 valued at $113,000 after buying an additional 5,900 shares during the last quarter. Finally, Peapack Gladstone Financial Corp purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the 2nd quarter valued at $293,000.

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.