GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 4.3% – Here’s What Happened

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price dropped 4.3% during mid-day trading on Friday . The stock traded as low as $56.44 and last traded at $56.62. Approximately 4,780,225 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 4,129,092 shares. The stock had previously closed at $59.14.

GraniteShares 2x Long COIN Daily ETF Price Performance

The company’s 50 day moving average is $37.08 and its 200-day moving average is $40.20.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several institutional investors have recently bought and sold shares of CONL. SG Americas Securities LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at about $122,000. IMC Chicago LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at about $2,412,000. Finally, Citigroup Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF during 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.