GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Up 9% – Should You Buy?

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) were up 9% during mid-day trading on Wednesday . The stock traded as high as $8.48 and last traded at $8.39. Approximately 9,909,819 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 15,731,166 shares. The stock had previously closed at $7.70.

GraniteShares 2x Long COIN Daily ETF Price Performance

The firm has a 50-day moving average price of $7.74 and a two-hundred day moving average price of $18.67.

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

A number of large investors have recently modified their holdings of CONL. UBS Group AG raised its position in shares of GraniteShares 2x Long COIN Daily ETF by 64.8% in the third quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock valued at $72,982,000 after buying an additional 767,632 shares during the last quarter. Citigroup Inc. boosted its position in GraniteShares 2x Long COIN Daily ETF by 11.6% during the third quarter. Citigroup Inc. now owns 3,014,355 shares of the company’s stock worth $112,737,000 after acquiring an additional 314,355 shares during the last quarter. Austin Wealth Management LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at about $662,000. Renaissance Technologies LLC grew its stake in GraniteShares 2x Long COIN Daily ETF by 91.2% during the 4th quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock valued at $1,342,000 after acquiring an additional 43,700 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the 2nd quarter valued at about $1,248,000.

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.