GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Up 5% – Here’s Why

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares shot up 5% during mid-day trading on Monday . The company traded as high as $57.07 and last traded at $56.06. 1,549,376 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 4,138,218 shares. The stock had previously closed at $53.38.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The company has a 50 day moving average price of $37.68 and a 200 day moving average price of $40.24.

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

A number of hedge funds have recently added to or reduced their stakes in CONL. SG Americas Securities LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter worth about $122,000. IMC Chicago LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at approximately $2,412,000. Finally, Citigroup Inc. acquired a new stake in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter valued at approximately $8,079,000.

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.