GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 9.4% Higher – What’s Next?

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) traded up 9.4% on Friday . The stock traded as high as $32.85 and last traded at $33.80. 1,139,943 shares were traded during mid-day trading, a decline of 83% from the average session volume of 6,800,427 shares. The stock had previously closed at $30.90.

GraniteShares 2x Long COIN Daily ETF Price Performance

The company has a 50-day simple moving average of $44.33 and a two-hundred day simple moving average of $29.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CONL. IFP Advisors Inc purchased a new position in GraniteShares 2x Long COIN Daily ETF in the first quarter worth $28,000. Headlands Technologies LLC boosted its position 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 purchasing an additional 3,106 shares during the last quarter. XTX Topco Ltd purchased a new position in GraniteShares 2x Long COIN Daily ETF in the first quarter worth $143,000. Peapack Gladstone Financial Corp bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the second quarter valued at $293,000. Finally, Flow Traders U.S. LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the second quarter valued at $604,000.

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.