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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped up before the market opened on Tuesday . The stock had previously closed at $6.93, but opened at $7.38. GraniteShares 2x Long COIN Daily ETF shares last traded at $7.73, with a volume of 8,679,174 shares.

GraniteShares 2x Long COIN Daily ETF Trading Up 12.7%

The stock’s fifty day moving average price is $7.76 and its two-hundred day moving average price is $18.60.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. increased its stake in shares of GraniteShares 2x Long COIN Daily ETF by 11.6% in the 3rd quarter. Citigroup Inc. now owns 3,014,355 shares of the company’s stock valued at $112,737,000 after purchasing an additional 314,355 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth $905,000. SBI Securities Co. Ltd. lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 12.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 41,273 shares of the company’s stock worth $1,544,000 after buying an additional 4,526 shares during the last quarter. Sloy Dahl & Holst LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at about $426,000. Finally, HRT Financial LP grew its position in GraniteShares 2x Long COIN Daily ETF by 165.2% in the fourth quarter. HRT Financial LP now owns 38,071 shares of the company’s stock valued at $557,000 after acquiring an additional 23,716 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.