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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $36.56, but opened at $35.01. GraniteShares 2x Long COIN Daily ETF shares last traded at $37.40, with a volume of 3,432,349 shares.

GraniteShares 2x Long COIN Daily ETF Trading Down 5.2%

The company’s 50-day moving average price is $22.75 and its two-hundred day moving average price is $29.82.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at about $28,000. Headlands Technologies LLC boosted its stake in GraniteShares 2x Long COIN Daily ETF by 2,654.7% in the first quarter. Headlands Technologies LLC now owns 3,223 shares of the company’s stock worth $45,000 after buying an additional 3,106 shares in the last quarter. XTX Topco Ltd bought a new position in GraniteShares 2x Long COIN Daily ETF during the first quarter valued at approximately $143,000. JPMorgan Chase & Co. purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth approximately $836,000. Finally, Optiver Holding B.V. raised its stake in shares of GraniteShares 2x Long COIN Daily ETF by 545.6% during the fourth quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock worth $991,000 after acquiring an additional 23,729 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.