GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped down before the market opened on Tuesday . The stock had previously closed at $6.29, but opened at $5.80. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.4450, with a volume of 8,752,618 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The company’s 50-day simple moving average is $5.10 and its 200 day simple moving average is $6.60.

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

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in 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 buying an additional 5,300 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 58.0% in the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock worth $113,000 after buying an additional 5,900 shares during the last quarter. Flagstar Advisors Inc. bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth about $189,000. Group One Trading LLC boosted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% during the 1st quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock worth $198,000 after acquiring an additional 22,965 shares in the last quarter. Finally, Crescent Grove Advisors LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at about $238,000.

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.