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

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down prior to trading on Tuesday . The stock had previously closed at $60.15, but opened at $55.07. GraniteShares 2x Long COIN Daily ETF shares last traded at $58.06, with a volume of 2,640,828 shares.

GraniteShares 2x Long COIN Daily ETF Trading Down 2.4 %

The business has a fifty day simple moving average of $34.95 and a 200-day simple moving average of $39.84.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at about $122,000. IMC Chicago LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $2,412,000. Finally, Citigroup Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter worth approximately $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.