GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Should You Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped down before the market opened on Monday . The stock had previously closed at $37.59, but opened at $34.06. GraniteShares 2x Long COIN Daily ETF shares last traded at $34.30, with a volume of 1,145,451 shares traded.

GraniteShares 2x Long COIN Daily ETF Trading Down 10.6 %

The company has a fifty day simple moving average of $50.47 and a 200-day simple moving average of $39.45.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

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

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.