Short Interest in Solana ETF (NASDAQ:SOLZ) Declines By 38.7%

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

Solana ETF Stock Performance

Shares of NASDAQ:SOLZ traded down $0.09 during trading on Wednesday, hitting $7.47. The company’s stock had a trading volume of 110,474 shares, compared to its average volume of 1,945,048. Solana ETF has a fifty-two week low of $7.44 and a fifty-two week high of $27.12. The business has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $10.73.

Solana ETF Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 20th were paid a dividend of $0.0149 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This is a positive change from Solana ETF’s previous dividend of $0.01.

Institutional Investors Weigh In On Solana ETF

A number of hedge funds have recently bought and sold shares of SOLZ. Kestra Advisory Services LLC purchased a new position in shares of Solana ETF in the 4th quarter valued at about $25,000. Montag A & Associates Inc. increased its stake in shares of Solana ETF by 150.8% during 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 during the period. Parallel Advisors LLC acquired a new stake in Solana ETF in the third quarter valued at approximately $75,000. Rothschild Investment LLC acquired a new stake in Solana ETF in the third quarter valued at approximately $133,000. Finally, Bank of America Corp DE purchased a new position in Solana ETF in the third quarter worth approximately $179,000.

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.