GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 17.9% – Time to Sell?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) shares fell 17.9% on Monday . The stock traded as low as $41.01 and last traded at $40.18. 5,148,879 shares traded hands during trading, a decline of 8% from the average session volume of 5,619,062 shares. The stock had previously closed at $48.96.

GraniteShares 2x Long COIN Daily ETF Trading Up 6.4 %

The firm’s fifty day moving average price is $48.90 and its two-hundred day moving average price is $39.36.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Drive Wealth Management LLC bought a new position in shares of GraniteShares 2x Long COIN Daily ETF during the fourth quarter worth $7,614,000. Citigroup Inc. purchased a new position in GraniteShares 2x Long COIN Daily ETF in the 3rd quarter worth about $8,079,000. IMC Chicago LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at about $2,412,000. Finally, SG Americas Securities LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF during the 3rd quarter valued at about $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.