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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up before the market opened on Tuesday . The stock had previously closed at $41.59, but opened at $43.14. GraniteShares 2x Long COIN Daily ETF shares last traded at $43.51, with a volume of 1,588,666 shares.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business has a fifty day moving average of $48.04 and a 200-day moving average of $40.66.

Institutional Inflows and Outflows

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

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.