GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Down 6.3% – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares dropped 6.3% on Thursday . The company traded as low as $30.77 and last traded at $31.23. Approximately 3,123,816 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 2,699,894 shares. The stock had previously closed at $33.33.

GraniteShares 2x Long COIN Daily ETF Stock Up 15.6 %

The firm has a 50 day moving average of $26.26 and a 200 day moving average of $42.02.

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

A hedge fund recently bought a new stake in GraniteShares 2x Long COIN Daily ETF stock. SG Americas Securities LLC acquired a new position in GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,900 shares of the company’s stock, valued at 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.