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

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $5.40, but opened at $5.12. GraniteShares 2x Long COIN Daily ETF shares last traded at $5.39, with a volume of 5,141,166 shares traded.

GraniteShares 2x Long COIN Daily ETF Stock Down 6.4%

The business has a fifty day moving average of $6.57 and a 200 day moving average of $9.19.

Hedge Funds Weigh In On GraniteShares 2x Long COIN Daily ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG increased its stake in shares of GraniteShares 2x Long COIN Daily ETF by 64.8% in the third quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock worth $72,982,000 after buying an additional 767,632 shares during the last quarter. Optiver Holding B.V. boosted its stake in GraniteShares 2x Long COIN Daily ETF by 232.2% during the 1st quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock valued at $906,000 after acquiring an additional 90,448 shares during the last quarter. IMC Chicago LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the 1st quarter valued at $814,000. Renaissance Technologies LLC grew its holdings in GraniteShares 2x Long COIN Daily ETF by 91.2% during the 4th quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock worth $1,342,000 after acquiring an additional 43,700 shares in the last quarter. Finally, Austin Wealth Management LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF during the 4th quarter worth $662,000.

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.