GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Down 9.5% – Here’s What Happened

by · The Cerbat Gem

GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL – Get Free Report)’s share price were down 9.5% during trading on Monday . The stock traded as low as $6.51 and last traded at $6.79. Approximately 8,701,569 shares traded hands during trading, a decline of 51% from the average daily volume of 17,602,709 shares. The stock had previously closed at $7.50.

GraniteShares 2x Long COIN Daily ETF Trading Down 3.6%

The firm has a 50-day simple moving average of $7.95 and a 200 day simple moving average of $12.21.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in GraniteShares 2x Long COIN Daily ETF by 11.6% during the third quarter. Citigroup Inc. now owns 3,014,355 shares of the company’s stock valued at $112,737,000 after buying an additional 314,355 shares during the period. UBS Group AG raised its position in shares of GraniteShares 2x Long COIN Daily ETF by 64.8% in the 3rd quarter. UBS Group AG now owns 1,951,379 shares of the company’s stock worth $72,982,000 after purchasing an additional 767,632 shares during the last quarter. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 1st quarter worth about $814,000. Renaissance Technologies LLC raised its position in shares of GraniteShares 2x Long COIN Daily ETF by 91.2% in the 4th quarter. Renaissance Technologies LLC now owns 91,600 shares of the company’s stock worth $1,342,000 after purchasing an additional 43,700 shares during the last quarter. Finally, Austin Wealth Management LLC purchased a new position in shares of GraniteShares 2x Long COIN Daily ETF in the 4th quarter worth about $662,000.

GraniteShares 2x Long COIN Daily ETF Company Profile

(Get Free Report)

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.

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