GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Down 13.6% – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price fell 13.6% on Thursday . The stock traded as low as $24.21 and last traded at $24.3430. 4,115,293 shares changed hands during trading, a decline of 37% from the average session volume of 6,567,789 shares. The stock had previously closed at $28.19.

GraniteShares 2x Long COIN Daily ETF Stock Up 0.4%

The business has a fifty day moving average of $36.09 and a 200-day moving average of $35.88.

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

Several institutional investors have recently made changes to their positions in CONL. IFP Advisors Inc purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the first quarter worth about $28,000. XTX Topco Ltd bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter valued at about $143,000. Headlands Technologies LLC lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 2,654.7% in the 1st quarter. Headlands Technologies LLC now owns 3,223 shares of the company’s stock worth $45,000 after purchasing an additional 3,106 shares during the period. Citigroup Inc. lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 285.7% in the 2nd quarter. Citigroup Inc. now owns 2,700,000 shares of the company’s stock worth $124,551,000 after purchasing an additional 2,000,000 shares during the period. Finally, Flow Traders U.S. LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the second quarter valued at approximately $604,000.

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.