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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped up before the market opened on Thursday . The stock had previously closed at $4.65, but opened at $5.40. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.29, with a volume of 15,924,277 shares.

GraniteShares 2x Long COIN Daily ETF Trading Up 12.5%

The business’s fifty day moving average price is $4.85 and its 200-day moving average price is $6.78.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $44,000. Parallel Advisors LLC raised its position in GraniteShares 2x Long COIN Daily ETF by 353.3% in the 1st quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $48,000 after buying an additional 5,300 shares during the last quarter. Group One Trading LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at $78,000. NewEdge Advisors LLC lifted its stake 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 valued at $113,000 after acquiring an additional 5,900 shares in the last quarter. Finally, Flagstar Advisors Inc. purchased a new position in GraniteShares 2x Long COIN Daily ETF during the 1st quarter worth $189,000.

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.