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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down before the market opened on Monday . The stock had previously closed at $59.10, but opened at $57.45. GraniteShares 2x Long COIN Daily ETF shares last traded at $53.32, with a volume of 5,231,938 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 7.6 %

The company has a 50 day moving average of $30.04 and a two-hundred day moving average of $39.30.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

Several hedge funds have recently bought and sold shares of the business. Citigroup Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at approximately $8,079,000. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $2,412,000. Finally, SG Americas Securities LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth $122,000.

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.