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

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 changing hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The firm’s 50-day simple moving average is $30.04 and its 200-day simple moving average is $39.30.

Institutional Inflows and Outflows

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