GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 3.1% – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price dropped 3.1% during mid-day trading on Tuesday . The stock traded as low as $45.15 and last traded at $45.52. Approximately 861,761 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,249,886 shares. The stock had previously closed at $46.96.

GraniteShares 2x Long COIN Daily ETF Trading Down 13.2 %

The business has a fifty day moving average of $49.72 and a 200 day moving average of $39.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CONL. SG Americas Securities LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $122,000. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter valued at about $2,412,000. Finally, Citigroup Inc. bought a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter valued at 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.