Solana ETF (NASDAQ:SOLZ) Sees Significant Decline in Short Interest
by Sarita Garza · The Markets DailySolana ETF (NASDAQ:SOLZ – Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 619,082 shares, a drop of 70.3% from the February 26th total of 2,082,325 shares. Based on an average daily volume of 3,895,388 shares, the days-to-cover ratio is presently 0.2 days. Approximately 6.3% of the shares of the company are short sold.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in SOLZ. Cresset Asset Management LLC acquired a new position in Solana ETF in the third quarter valued at about $4,977,000. DRW Securities LLC raised its stake in shares of Solana ETF by 195.7% in the 4th quarter. DRW Securities LLC now owns 203,824 shares of the company’s stock valued at $2,597,000 after acquiring an additional 416,801 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Solana ETF in the 3rd quarter worth approximately $2,417,000. Galaxy Group Investments LLC purchased a new position in shares of Solana ETF during the 4th quarter worth approximately $1,200,000. Finally, Militia Capital Partners LP acquired a new stake in Solana ETF in the 2nd quarter valued at approximately $1,516,000.
Solana ETF Price Performance
NASDAQ SOLZ traded down $0.45 during trading hours on Thursday, reaching $8.85. The stock had a trading volume of 429,357 shares, compared to its average volume of 2,541,164. Solana ETF has a 52-week low of $7.68 and a 52-week high of $27.12. The stock has a fifty day moving average of $9.90 and a 200 day moving average of $14.95.
Solana ETF Cuts Dividend
The firm also recently disclosed a dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, March 18th were issued a $0.0136 dividend. The ex-dividend date of this dividend was Wednesday, March 18th.
About Solana ETF
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.