GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Up 12.6% – Time to Buy?

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) rose 12.6% during mid-day trading on Monday . The company traded as high as $9.96 and last traded at $9.93. Approximately 20,960,702 shares were traded during mid-day trading, an increase of 24% from the average daily volume of 16,941,988 shares. The stock had previously closed at $8.82.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The firm’s fifty day moving average price is $8.32 and its 200 day moving average price is $15.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its stake in shares of GraniteShares 2x Long COIN Daily ETF by 11.6% during the 3rd quarter. Citigroup Inc. now owns 3,014,355 shares of the company’s stock worth $112,737,000 after purchasing an additional 314,355 shares in the last quarter. UBS Group AG grew its stake in shares of 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. IMC Chicago LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the first quarter worth approximately $814,000. Renaissance Technologies LLC raised its position in GraniteShares 2x Long COIN Daily ETF by 91.2% during the fourth quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock valued at $1,342,000 after acquiring an additional 43,700 shares in the last quarter. Finally, Austin Wealth Management LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at approximately $662,000.

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.