GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – What’s Next?

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down before the market opened on Monday . The stock had previously closed at $8.15, but opened at $7.73. GraniteShares 2x Long COIN Daily ETF shares last traded at $7.91, with a volume of 6,645,571 shares traded.

GraniteShares 2x Long COIN Daily ETF Price Performance

The firm has a 50-day moving average price of $8.32 and a 200 day moving average price of $13.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in GraniteShares 2x Long COIN Daily ETF by 58.0% during the 1st quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock worth $113,000 after buying an additional 5,900 shares during the period. Group One Trading LLC boosted its position in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% in the first quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock valued at $198,000 after acquiring an additional 22,965 shares during the period. Parallel Advisors LLC boosted its position in shares of GraniteShares 2x Long COIN Daily ETF by 353.3% in the first quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after acquiring an additional 5,300 shares during the period. IMC Chicago LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter valued at about $814,000. Finally, Flagstar Advisors Inc. acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter valued at about $189,000.

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.