GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Down 13.4% – Here’s What Happened

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) dropped 13.4% during mid-day trading on Thursday . The stock traded as low as $27.20 and last traded at $27.33. Approximately 4,005,401 shares were traded during trading, a decline of 39% from the average daily volume of 6,589,781 shares. The stock had previously closed at $31.56.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The firm has a 50-day moving average price of $36.64 and a 200-day moving average price of $35.38.

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

Several hedge funds have recently modified their holdings of CONL. IFP Advisors Inc acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at $28,000. Headlands Technologies LLC increased its position in shares of GraniteShares 2x Long COIN Daily ETF by 2,654.7% during the 1st quarter. Headlands Technologies LLC now owns 3,223 shares of the company’s stock valued at $45,000 after purchasing an additional 3,106 shares during the period. XTX Topco Ltd acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at $143,000. Peapack Gladstone Financial Corp acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 2nd quarter valued at $293,000. Finally, Sloy Dahl & Holst LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $426,000.

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.