GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Down – Should You Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $47.48, but opened at $44.11. GraniteShares 2x Long COIN Daily ETF shares last traded at $41.27, with a volume of 5,125,766 shares.

GraniteShares 2x Long COIN Daily ETF Price Performance

The business’s fifty day simple moving average is $44.61 and its 200 day simple moving average is $38.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $122,000. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the third quarter worth $2,412,000. Citigroup Inc. acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at $8,079,000. Drive Wealth Management LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at $7,614,000. Finally, SBI Securities Co. Ltd. acquired a new position in GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth $2,268,000.

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.