GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Still a Buy?

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) 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 changing hands.

GraniteShares 2x Long COIN Daily ETF Price Performance

The firm has a 50-day simple moving average of $29.21 and a 200-day simple moving average of $39.29.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

Institutional investors have recently made changes to their positions in the business. Citigroup Inc. bought a new stake in GraniteShares 2x Long COIN Daily ETF during the third quarter valued at approximately $8,079,000. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth $2,412,000. Finally, SG Americas Securities LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $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.