GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 4.5% – Here’s Why

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) traded down 4.5% on Thursday . The stock traded as low as $58.90 and last traded at $61.13. 3,688,083 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 3,948,771 shares. The stock had previously closed at $63.99.

GraniteShares 2x Long COIN Daily ETF Trading Down 6.8 %

The business’s 50-day simple moving average is $32.78 and its 200 day simple moving average is $39.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. purchased a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at about $8,079,000. IMC Chicago LLC purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the third quarter valued at approximately $2,412,000. Finally, SG Americas Securities LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter worth $122,000.

GraniteShares 2x Long COIN Daily ETF Company Profile

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.