GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Climb 7.8% – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price rose 7.8% during mid-day trading on Tuesday. The company traded as high as $4.78 and last traded at $4.9250. 3,984,712 shares changed hands during trading, a decline of 79% from the average session volume of 19,282,895 shares. The stock had previously closed at $4.57.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The company has a 50-day simple moving average of $5.49 and a 200-day simple moving average of $6.06.

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

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake 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 purchasing an additional 5,300 shares during the period. Avior Wealth Management LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at about $69,000. NewEdge Advisors LLC increased its holdings in GraniteShares 2x Long COIN Daily ETF by 58.0% in the first quarter. NewEdge Advisors LLC now owns 16,075 shares of the company’s stock valued at $113,000 after buying an additional 5,900 shares in the last quarter. Flagstar Advisors Inc. acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at approximately $189,000. Finally, Group One Trading LLC lifted its position in shares of GraniteShares 2x Long COIN Daily ETF by 431.4% during the 1st 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.

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.