GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 13.2% – What’s Next?

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL)’s stock price dropped 13.2% during trading on Tuesday . The company traded as low as $44.31 and last traded at $41.83. Approximately 1,708,325 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 4,867,004 shares. The stock had previously closed at $48.17.

GraniteShares 2x Long COIN Daily ETF Price Performance

The stock’s fifty day moving average price is $50.47 and its two-hundred day moving average price is $39.25.

Institutional Trading of GraniteShares 2x Long COIN Daily ETF

A number of institutional investors have recently bought and sold shares of the business. Citigroup Inc. acquired a new stake in shares of GraniteShares 2x Long COIN Daily ETF during the 3rd quarter worth about $8,079,000. SG Americas Securities LLC purchased a new position in GraniteShares 2x Long COIN Daily ETF in the third quarter valued at approximately $122,000. Finally, IMC Chicago LLC acquired a new stake in GraniteShares 2x Long COIN Daily ETF during the third quarter worth approximately $2,412,000.

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.