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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $23.99, but opened at $27.66. GraniteShares 2x Long COIN Daily ETF shares last traded at $25.56, with a volume of 4,700,279 shares traded.

GraniteShares 2x Long COIN Daily ETF Price Performance

The stock’s 50-day moving average price is $39.00 and its 200-day moving average price is $38.14.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at about $836,000. Optiver Holding B.V. increased its holdings in GraniteShares 2x Long COIN Daily ETF by 545.6% in the fourth quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock worth $991,000 after purchasing an additional 23,729 shares in the last quarter. Simplex Trading LLC increased its holdings in GraniteShares 2x Long COIN Daily ETF by 362.9% in the fourth quarter. Simplex Trading LLC now owns 41,634 shares of the company’s stock worth $1,469,000 after purchasing an additional 32,639 shares in the last quarter. Prosperity Wealth Management Inc. acquired a new position in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at approximately $1,314,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $2,268,000.

GraniteShares 2x Long COIN Daily ETF Company Profile

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.