Solana ETF (NASDAQ:SOLZ) Shares Down 1.1% – Time to Sell?

Solana ETF (NASDAQ:SOLZ) shares traded down 1.1% on Wednesday . The stock traded as low as $10.17 and last traded at $10.18. 777,233 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,638,533 shares. The stock had previously closed at $10.29.

Solana ETF Price Performance

The business’s 50 day moving average is $8.38 and its 200-day moving average is $8.33.

Hedge Funds Weigh In On Solana ETF

A number of hedge funds have recently bought and sold shares of the company. Tactive Advisors LLC grew its stake in shares of Solana ETF by 715.1% during the 2nd quarter. Tactive Advisors LLC now owns 192,585 shares of the company’s stock worth $1,421,000 after acquiring an additional 168,958 shares during the period. Galaxy Digital Capital Management GP LLC raised its holdings in shares of Solana ETF by 4.3% during the first quarter. Galaxy Digital Capital Management GP LLC now owns 98,292 shares of the company’s stock valued at $822,000 after acquiring an additional 4,081 shares in the last quarter. rebel Financial LLC purchased a new position in shares of Solana ETF in the 1st quarter valued at approximately $121,000. Maridea Wealth Management LLC purchased a new position in shares of Solana ETF during the first quarter valued at approximately $170,000. Finally, Galaxy Group Investments LLC bought a new position in shares of Solana ETF in the fourth quarter worth approximately $1,200,000.

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.