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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $57.20, but opened at $55.69. GraniteShares 2x Long COIN Daily ETF shares last traded at $55.03, with a volume of 1,255,881 shares trading hands.

GraniteShares 2x Long COIN Daily ETF Stock Down 1.6 %

The stock’s fifty day simple moving average is $46.43 and its 200 day simple moving average is $41.04.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CONL. SG Americas Securities LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at approximately $122,000. IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth $2,412,000. Finally, Citigroup Inc. purchased a new position in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth $8,079,000.

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.