GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Down 13.2% – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price traded down 13.2% during mid-day trading on Tuesday . The stock traded as low as $44.31 and last traded at $41.83. 1,708,325 shares were traded during trading, a decline of 65% from the average session volume of 4,867,004 shares. The stock had previously closed at $48.17.

GraniteShares 2x Long COIN Daily ETF Price Performance

The stock’s fifty day moving average price is $50.05 and its 200 day moving average price is $39.33.

Institutional Investors Weigh In On GraniteShares 2x Long COIN Daily ETF

A number of large investors have recently added to or reduced their stakes in the company. Citigroup Inc. bought a new stake in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth approximately $8,079,000. Drive Wealth Management LLC bought a new stake in GraniteShares 2x Long COIN Daily ETF in the fourth quarter worth $7,614,000. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at about $2,412,000. Finally, SG Americas Securities LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth approximately $122,000.

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.