GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Time to Sell?

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down before the market opened on Monday . The stock had previously closed at $9.59, but opened at $9.09. GraniteShares 2x Long COIN Daily ETF shares last traded at $9.33, with a volume of 5,603,381 shares traded.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The firm’s 50-day moving average is $7.96 and its two-hundred day moving average is $17.55.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CONL. Summit Securities Group LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $44,000. Group One Trading LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $78,000. NewEdge Advisors LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $149,000. Crescent Grove Advisors LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth about $238,000. Finally, Simplex Trading LLC raised its position in shares of GraniteShares 2x Long COIN Daily ETF by 1,390.9% during the 4th quarter. Simplex Trading LLC now owns 19,427 shares of the company’s stock worth $285,000 after purchasing an additional 18,124 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.