GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Sees Strong Trading Volume – Still a Buy?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) saw unusually-strong trading volume on Monday . Approximately 9,330,117 shares were traded during mid-day trading, an increase of 174% from the previous session’s volume of 3,399,253 shares.The stock last traded at $61.50 and had previously closed at $48.62.

GraniteShares 2x Long COIN Daily ETF Stock Down 3.2 %

The business’s 50 day moving average is $27.20 and its 200-day moving average is $39.07.

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

Several institutional investors have recently bought and sold shares of CONL. Citigroup Inc. acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth $8,079,000. IMC Chicago LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth $2,412,000. Finally, SG Americas Securities LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd 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.