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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $45.08, but opened at $43.60. GraniteShares 2x Long COIN Daily ETF shares last traded at $43.60, with a volume of 1,162,101 shares.

GraniteShares 2x Long COIN Daily ETF Trading Down 4.3 %

The company’s 50-day moving average is $48.59 and its two-hundred day moving average is $40.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth approximately $8,079,000. IMC Chicago LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter worth $2,412,000. Finally, SG Americas Securities LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $122,000.

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.