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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped up prior to trading on Thursday . The stock had previously closed at $4.58, but opened at $4.87. GraniteShares 2x Long COIN Daily ETF shares last traded at $4.7670, with a volume of 8,136,015 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Trading Up 6.0%

The company’s 50-day moving average price is $5.09 and its 200-day moving average price is $6.55.

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

A number of large investors have recently added to or reduced their stakes in the company. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter valued at about $814,000. Flagstar Advisors Inc. acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter valued at approximately $189,000. Crescent Grove Advisors LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $238,000. Parallel Advisors LLC lifted its position 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 in the last quarter. Finally, NewEdge Advisors LLC grew its position in GraniteShares 2x Long COIN Daily ETF by 58.0% in the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock valued at $113,000 after purchasing an additional 5,900 shares in the last quarter.

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.