GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped up before the market opened on Friday . The stock had previously closed at $33.21, but opened at $35.60. GraniteShares 2x Long COIN Daily ETF shares last traded at $38.55, with a volume of 3,012,533 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Trading Up 19.4%

The firm’s 50-day moving average price is $36.16 and its 200-day moving average price is $34.00.

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

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. increased its position in shares of GraniteShares 2x Long COIN Daily ETF by 285.7% during the 2nd quarter. Citigroup Inc. now owns 2,700,000 shares of the company’s stock valued at $124,551,000 after purchasing an additional 2,000,000 shares during the last quarter. Jump Financial LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the second quarter valued at $1,248,000. GatePass Capital LLC increased its position in GraniteShares 2x Long COIN Daily ETF by 22.7% during the second quarter. GatePass Capital LLC now owns 20,264 shares of the company’s stock valued at $935,000 after acquiring an additional 3,746 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the second quarter valued at $604,000. Finally, Sloy Dahl & Holst LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $426,000.

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.