GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Down 13.4% – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price traded down 13.4% during mid-day trading on Thursday . The company traded as low as $27.20 and last traded at $27.33. 4,005,401 shares were traded during trading, a decline of 39% from the average session volume of 6,589,781 shares. The stock had previously closed at $31.56.

GraniteShares 2x Long COIN Daily ETF Trading Up 9.3%

The firm has a 50-day moving average of $36.48 and a 200 day moving average of $35.43.

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

A number of institutional investors and hedge funds have recently modified their holdings of CONL. IFP Advisors Inc purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the first quarter valued at $28,000. Headlands Technologies LLC grew its stake in shares of GraniteShares 2x Long COIN Daily ETF by 2,654.7% during the 1st quarter. Headlands Technologies LLC now owns 3,223 shares of the company’s stock valued at $45,000 after purchasing an additional 3,106 shares during the period. GatePass Capital LLC increased its position in shares of GraniteShares 2x Long COIN Daily ETF by 22.7% during the 2nd quarter. GatePass Capital LLC now owns 20,264 shares of the company’s stock valued at $935,000 after purchasing an additional 3,746 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of GraniteShares 2x Long COIN Daily ETF by 12.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 41,273 shares of the company’s stock worth $1,544,000 after purchasing an additional 4,526 shares during the period. Finally, Peapack Gladstone Financial Corp bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 2nd quarter worth approximately $293,000.

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.