GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 5.5% Higher – Should You Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares traded up 5.5% on Monday . The stock traded as high as $62.66 and last traded at $60.19. 2,094,228 shares traded hands during trading, a decline of 51% from the average session volume of 4,317,093 shares. The stock had previously closed at $57.06.

GraniteShares 2x Long COIN Daily ETF Stock Down 2.6 %

The company has a 50 day moving average price of $46.43 and a two-hundred day moving average price of $41.04.

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

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter worth $122,000. IMC Chicago LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $2,412,000. Finally, Citigroup Inc. bought a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter worth about $8,079,000.

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.