GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) Shares Gap Up – Here’s Why

Shares of GraniteShares 2x Long COIN Daily ETF (NASDAQ:CONL) gapped up prior to trading on Tuesday . The stock had previously closed at $6.93, but opened at $7.38. GraniteShares 2x Long COIN Daily ETF shares last traded at $7.73, with a volume of 8,679,174 shares changing hands.

GraniteShares 2x Long COIN Daily ETF Stock Up 12.8%

The firm’s fifty day simple moving average is $7.76 and its 200 day simple moving average is $18.85.

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

Several hedge funds have recently bought and sold shares of CONL. Summit Securities Group LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at about $44,000. Group One Trading LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at about $78,000. NewEdge Advisors LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at about $149,000. Crescent Grove Advisors LLC bought a new position in GraniteShares 2x Long COIN Daily ETF in the 4th quarter valued at about $238,000. Finally, Simplex Trading LLC increased its holdings in GraniteShares 2x Long COIN Daily ETF by 1,390.9% in the 4th quarter. Simplex Trading LLC now owns 19,427 shares of the company’s stock valued at $285,000 after buying an additional 18,124 shares during the period.

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.