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

Solana ETF (NASDAQ:SOLZ) was the recipient of a significant 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 volume of 1,568,429 shares, the days-to-cover ratio is currently 0.3 days. Approximately 3.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SOLZ. Galaxy Digital Capital Management GP LLC raised its holdings in shares of Solana ETF by 4.3% in the 1st quarter. Galaxy Digital Capital Management GP LLC now owns 98,292 shares of the company’s stock valued at $822,000 after buying an additional 4,081 shares during the period. rebel Financial LLC acquired a new position in Solana ETF in the 1st quarter valued at about $121,000. Maridea Wealth Management LLC acquired a new position in Solana ETF in the 1st quarter valued at about $170,000. Galaxy Group Investments LLC purchased a new stake in Solana ETF during the fourth quarter worth about $1,200,000. Finally, Captrust Financial Advisors purchased a new stake in Solana ETF during the fourth quarter worth about $140,000.

Solana ETF Price Performance

NASDAQ:SOLZ traded down $0.09 on Wednesday, reaching $7.47. The company’s stock had a trading volume of 110,474 shares, compared to its average volume of 1,945,048. The stock has a 50 day moving average price of $8.66 and a 200 day moving average price of $10.73. Solana ETF has a 12-month low of $7.44 and a 12-month high of $27.12.

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 issued a $0.0149 dividend. This is a boost from Solana ETF’s previous dividend of $0.01. The ex-dividend date was Wednesday, May 20th.

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.