GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Up 12.1% – Should You Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price rose 12.1% during mid-day trading on Wednesday . The stock traded as high as $41.63 and last traded at $40.92. Approximately 2,365,747 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 4,911,645 shares. The stock had previously closed at $36.50.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business has a 50 day moving average of $50.89 and a 200 day moving average of $39.31.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

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