GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Stock Price Down 7.3% – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price dropped 7.3% during mid-day trading on Wednesday . The stock traded as low as $30.61 and last traded at $30.70. Approximately 3,248,770 shares changed hands during trading, an increase of 16% from the average daily volume of 2,808,247 shares. The stock had previously closed at $33.10.

GraniteShares 2x Long COIN Daily ETF Trading Down 4.0 %

The firm’s fifty day moving average is $26.27 and its 200-day moving average is $41.08.

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

An institutional investor recently bought a new position in GraniteShares 2x Long COIN Daily ETF stock. SG Americas Securities LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,900 shares of the company’s stock, valued at approximately $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.