GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped up prior to trading on Thursday . The stock had previously closed at $51.48, but opened at $53.84. GraniteShares 2x Long COIN Daily ETF shares last traded at $49.82, with a volume of 2,912,462 shares.

GraniteShares 2x Long COIN Daily ETF Trading Up 19.8 %

The stock’s 50 day simple moving average is $29.21 and its two-hundred day simple moving average is $39.29.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter worth $122,000. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $2,412,000. Finally, Citigroup Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $8,079,000.

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.