GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 0.1% Higher – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares traded up 0.1% on Wednesday . The company traded as high as $8.48 and last traded at $7.67. 16,478,161 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 15,547,728 shares. The stock had previously closed at $7.66.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business’s 50-day simple moving average is $9.09 and its two-hundred day simple moving average is $21.26.

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

A number of hedge funds have recently bought and sold shares of CONL. Summit Securities Group LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $44,000. Group One Trading LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $78,000. NewEdge Advisors LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at approximately $149,000. Crescent Grove Advisors LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at $238,000. Finally, Simplex Trading LLC grew its stake in GraniteShares 2x Long COIN Daily ETF by 1,390.9% in the 4th quarter. Simplex Trading LLC now owns 19,427 shares of the company’s stock valued at $285,000 after acquiring an additional 18,124 shares during the period.

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.