GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped down prior to trading on Tuesday . The stock had previously closed at $6.25, but opened at $5.82. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.75, with a volume of 5,469,486 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The firm’s fifty day moving average is $4.96 and its 200 day moving average is $6.66.

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

Large investors have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth approximately $44,000. Parallel Advisors LLC raised its stake in shares of GraniteShares 2x Long COIN Daily ETF by 353.3% during the first quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after acquiring an additional 5,300 shares during the last quarter. Group One Trading LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth approximately $78,000. NewEdge Advisors LLC boosted its position in GraniteShares 2x Long COIN Daily ETF by 58.0% during the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock valued at $113,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Flagstar Advisors Inc. bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth approximately $189,000.

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.