GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Trading Down 11.2% – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s share price dropped 11.2% during trading on Tuesday . The company traded as low as $60.22 and last traded at $60.24. Approximately 15,834,789 shares were traded during mid-day trading, an increase of 348% from the average daily volume of 3,534,223 shares. The stock had previously closed at $67.81.

GraniteShares 2x Long COIN Daily ETF Stock Performance

The company has a 50-day moving average of $27.20 and a 200 day moving average of $39.07.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of institutional investors have recently bought and sold shares of CONL. Citigroup Inc. purchased a new stake in GraniteShares 2x Long COIN Daily ETF during the third quarter valued at about $8,079,000. 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, SG Americas Securities LLC bought a new position in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at $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.