GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Down 5.3% – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price fell 5.3% during mid-day trading on Wednesday . The company traded as low as $5.87 and last traded at $5.95. Approximately 6,043,835 shares traded hands during trading, a decline of 68% from the average session volume of 18,849,709 shares. The stock had previously closed at $6.28.

GraniteShares 2x Long COIN Daily ETF Stock Down 6.5%

The firm’s fifty day moving average is $4.88 and its 200 day moving average is $6.68.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of institutional investors and hedge funds have recently modified their holdings of CONL. UBS Group AG lifted its stake in GraniteShares 2x Long COIN Daily ETF by 64.8% in the 3rd 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 in the last quarter. Optiver Holding B.V. lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 232.2% in the first quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock valued at $906,000 after acquiring an additional 90,448 shares in the last quarter. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter valued at approximately $814,000. Renaissance Technologies LLC boosted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 91.2% in the fourth quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock worth $1,342,000 after acquiring an additional 43,700 shares during the last quarter. Finally, HRT Financial LP boosted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 165.2% in the fourth quarter. HRT Financial LP now owns 38,071 shares of the company’s stock worth $557,000 after acquiring an additional 23,716 shares during 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.