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

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped down before the market opened on Wednesday . The stock had previously closed at $47.79, but opened at $46.60. GraniteShares 2x Long COIN Daily ETF shares last traded at $47.56, with a volume of 1,201,984 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The company has a 50 day moving average price of $50.11 and a 200 day moving average price of $39.27.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $8,079,000. Drive Wealth Management LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the fourth quarter valued at $7,614,000. IMC Chicago LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at approximately $2,412,000. Finally, SG Americas Securities LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $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.