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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped down prior to trading on Thursday. The stock had previously closed at $5.02, but opened at $4.64. GraniteShares 2x Long COIN Daily ETF shares last traded at $4.7270, with a volume of 4,279,561 shares.

GraniteShares 2x Long COIN Daily ETF Stock Down 8.1%

The business has a fifty day moving average price of $5.52 and a 200 day moving average price of $6.03.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of institutional investors and hedge funds have recently bought and sold shares of CONL. Optiver Holding B.V. lifted its position in GraniteShares 2x Long COIN Daily ETF by 232.2% during the first quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock valued at $906,000 after buying an additional 90,448 shares in the last quarter. IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter worth $814,000. Group One Trading LLC increased its position in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% in the first quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock worth $198,000 after acquiring an additional 22,965 shares in the last quarter. Flagstar Advisors Inc. acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter worth $189,000. Finally, NewEdge Advisors LLC raised its stake in shares of 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 acquiring an additional 5,900 shares during the period.

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.