Solana ETF (NASDAQ:SOLZ) Sees Large Drop in Short Interest

Solana ETF (NASDAQ:SOLZ) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totaling 414,920 shares, a decline of 38.7% from the April 30th total of 677,317 shares. Based on an average trading volume of 1,568,429 shares, the short-interest ratio is currently 0.3 days. Currently, 3.4% of the shares of the stock are short sold.

Solana ETF Trading Down 3.9%

NASDAQ:SOLZ opened at $6.93 on Friday. Solana ETF has a 12 month low of $6.86 and a 12 month high of $27.12. The business’s 50-day moving average is $8.56 and its 200 day moving average is $10.57.

Solana ETF Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 20th were given a $0.0149 dividend. This is an increase from Solana ETF’s previous dividend of $0.01. The ex-dividend date was Wednesday, May 20th.

Institutional Investors Weigh In On Solana ETF

A number of hedge funds have recently made changes to their positions in SOLZ. Kestra Advisory Services LLC purchased a new stake in shares of Solana ETF in the fourth quarter worth about $25,000. Montag A & Associates Inc. lifted its position in shares of Solana ETF by 150.8% in the third quarter. Montag A & Associates Inc. now owns 2,751 shares of the company’s stock worth $61,000 after buying an additional 1,654 shares in the last quarter. Parallel Advisors LLC purchased a new stake in shares of Solana ETF in the third quarter worth about $75,000. rebel Financial LLC purchased a new stake in shares of Solana ETF in the first quarter worth about $121,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Solana ETF in the third quarter worth about $133,000.

Solana ETF Company Profile

​The Solana ETF is managed by Volatility Shares, a U.S.-based investment management firm specializing in exchange-traded funds (ETFs). SOLZ aims to provide investors with long-term capital appreciation through exposure to Solana, one of the fastest-growing blockchain ecosystems. The fund achieves this by investing in Solana futures contracts and/or swaps, without holding Solana directly.