GraniteShares 2x Long COIN Daily ETF Target of Unusually Large Options Trading (NASDAQ:CONL)

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) was the recipient of unusually large options trading activity on Friday. Stock traders bought 2,699 call options on the company. This is an increase of approximately 158% compared to the typical volume of 1,046 call options.

GraniteShares 2x Long COIN Daily ETF Stock Down 7.3 %

CONL stock traded down $3.37 during trading on Friday, hitting $43.05. 2,170,799 shares of the company’s stock traded hands, compared to its average volume of 1,789,228. GraniteShares 2x Long COIN Daily ETF has a 52 week low of $9.14 and a 52 week high of $87.37. The stock has a fifty day moving average price of $49.96 and a two-hundred day moving average price of $46.04.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

Several hedge funds have recently made changes to their positions in CONL. APEIRON CAPITAL Ltd bought a new position in GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth about $10,224,000. IMC Chicago LLC acquired a new position in shares of GraniteShares 2x Long COIN Daily ETF during the 4th quarter valued at $451,000. Finally, Simplex Trading LLC bought a new stake in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth $533,000.

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.