GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Down 6% – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price were down 6% on Tuesday . The company traded as low as $37.64 and last traded at $37.49. Approximately 3,843,648 shares changed hands during trading, a decline of 26% from the average daily volume of 5,170,773 shares. The stock had previously closed at $39.87.

GraniteShares 2x Long COIN Daily ETF Trading Down 7.1 %

The business has a 50-day moving average price of $44.26 and a two-hundred day moving average price of $38.51.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $122,000. JPMorgan Chase & Co. acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $836,000. Optiver Holding B.V. raised its position in shares of GraniteShares 2x Long COIN Daily ETF by 545.6% during the 4th quarter. Optiver Holding B.V. now owns 28,078 shares of the company’s stock worth $991,000 after purchasing an additional 23,729 shares during the period. Prosperity Wealth Management Inc. acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth approximately $1,314,000. Finally, Simplex Trading LLC raised its position in shares of GraniteShares 2x Long COIN Daily ETF by 362.9% during the 4th quarter. Simplex Trading LLC now owns 41,634 shares of the company’s stock worth $1,469,000 after purchasing an additional 32,639 shares during the period.

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.