GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 7.4% – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price fell 7.4% on Wednesday . The company traded as low as $26.37 and last traded at $26.58. 2,054,296 shares were traded during mid-day trading, a decline of 67% from the average session volume of 6,311,700 shares. The stock had previously closed at $28.72.

GraniteShares 2x Long COIN Daily ETF Trading Down 7.2%

The company’s 50-day moving average is $18.34 and its two-hundred day moving average is $34.10.

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

A number of large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in GraniteShares 2x Long COIN Daily ETF during the first quarter worth about $28,000. Headlands Technologies LLC boosted its stake in GraniteShares 2x Long COIN Daily ETF by 2,654.7% during the first quarter. Headlands Technologies LLC now owns 3,223 shares of the company’s stock worth $45,000 after acquiring an additional 3,106 shares in the last quarter. XTX Topco Ltd bought a new stake in GraniteShares 2x Long COIN Daily ETF during the first quarter worth about $143,000. JPMorgan Chase & Co. purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter valued at approximately $836,000. Finally, Optiver Holding B.V. raised its holdings in shares of GraniteShares 2x Long COIN Daily ETF by 545.6% during the fourth quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock valued at $991,000 after purchasing an additional 23,729 shares during the last quarter.

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.