GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Up 3.5% – Here’s Why

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shot up 3.5% during trading on Friday . The company traded as high as $51.50 and last traded at $51.07. 2,651,671 shares traded hands during trading, a decline of 28% from the average session volume of 3,689,727 shares. The stock had previously closed at $49.33.

GraniteShares 2x Long COIN Daily ETF Stock Up 9.6 %

The firm’s fifty day simple moving average is $29.21 and its two-hundred day simple moving average is $39.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at $8,079,000. IMC Chicago LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at about $2,412,000. Finally, SG Americas Securities LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF during the third quarter worth about $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.