GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 3.1% – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) traded down 3.1% during mid-day trading on Tuesday . The company traded as low as $45.15 and last traded at $45.52. 861,761 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,249,886 shares. The stock had previously closed at $46.96.

GraniteShares 2x Long COIN Daily ETF Trading Down 13.2 %

The stock’s 50-day simple moving average is $49.72 and its 200-day simple moving average is $39.62.

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

A number of large investors have recently added to or reduced their stakes in CONL. Citigroup Inc. acquired a new position in 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 bought a new stake in GraniteShares 2x Long COIN Daily ETF during the third quarter worth about $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.