Short Interest in Solana ETF (NASDAQ:SOLZ) Drops By 21.6%
by Sarita Garza · The Markets DailySolana ETF (NASDAQ:SOLZ – Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 2,082,325 shares, a drop of 21.6% from the February 12th total of 2,655,034 shares. Approximately 21.3% of the shares of the company are sold short. Based on an average trading volume of 2,444,814 shares, the days-to-cover ratio is presently 0.9 days. Based on an average trading volume of 2,444,814 shares, the days-to-cover ratio is presently 0.9 days. Approximately 21.3% of the shares of the company are sold short.
Solana ETF Stock Up 2.6%
Shares of SOLZ traded up $0.23 during mid-day trading on Friday, hitting $9.04. 4,112,297 shares of the company traded hands, compared to its average volume of 2,674,627. The stock has a 50-day moving average price of $10.72 and a two-hundred day moving average price of $15.68. Solana ETF has a 1 year low of $7.68 and a 1 year high of $27.12.
Solana ETF Cuts Dividend
The business also recently announced a dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 18th were given a $0.0187 dividend. The ex-dividend date of this dividend was Wednesday, February 18th.
Institutional Investors Weigh In On Solana ETF
A number of hedge funds have recently added to or reduced their stakes in SOLZ. DRW Securities LLC boosted 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 worth $2,597,000 after buying an additional 416,801 shares during the last quarter. Cresset Asset Management LLC bought a new stake in shares of Solana ETF in the third quarter worth $4,977,000. Heck Capital Advisors LLC purchased a new stake in Solana ETF during the third quarter valued at $2,417,000. Galaxy Group Investments LLC purchased a new stake in Solana ETF during the fourth quarter valued at $1,200,000. Finally, Militia Capital Partners LP bought a new position in Solana ETF in the second quarter valued at about $1,516,000.
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.