GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Sees Large Volume Increase – Should You Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) saw an uptick in trading volume on Monday . Approximately 12,800,557 shares were traded during mid-day trading, a decline of 32% from the previous session’s volume of 18,796,307 shares.The stock last traded at $6.0740 and had previously closed at $5.32.

GraniteShares 2x Long COIN Daily ETF Trading Down 20.0%

The business’s fifty day moving average is $5.10 and its 200-day moving average is $6.58.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several hedge funds have recently made changes to their positions in CONL. Optiver Holding B.V. increased its holdings in GraniteShares 2x Long COIN Daily ETF by 232.2% in the 1st quarter. Optiver Holding B.V. now owns 129,394 shares of the company’s stock worth $906,000 after acquiring an additional 90,448 shares during the last quarter. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the first quarter valued at approximately $814,000. Crescent Grove Advisors LLC purchased a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at approximately $238,000. Group One Trading LLC boosted its holdings in GraniteShares 2x Long COIN Daily ETF by 431.4% in the 1st quarter. Group One Trading LLC now owns 28,288 shares of the company’s stock worth $198,000 after buying an additional 22,965 shares during the period. Finally, Flagstar Advisors Inc. purchased a new position in GraniteShares 2x Long COIN Daily ETF in the 1st quarter valued at approximately $189,000.

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.