GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading 3.5% Higher – Should You Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price rose 3.5% on Friday . The stock traded as high as $51.50 and last traded at $51.07. Approximately 2,651,671 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 3,689,727 shares. The stock had previously closed at $49.33.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The business’s 50 day simple moving average is $30.04 and its 200-day simple moving average is $39.36.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several hedge funds have recently added to or reduced their stakes in CONL. SG Americas Securities LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the third quarter valued at $122,000. IMC Chicago LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter worth about $2,412,000. Finally, Citigroup Inc. bought a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at about $8,079,000.

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.