Solana ETF (NASDAQ:SOLZ) Stock Price Down 0.6% – Here’s What Happened

Solana ETF (NASDAQ:SOLZ)’s stock price dropped 0.6% on Friday . The company traded as low as $7.73 and last traded at $7.79. 543,821 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,771,595 shares. The stock had previously closed at $7.84.

Solana ETF Stock Down 0.6%

The company’s 50 day simple moving average is $7.91 and its 200 day simple moving average is $9.40.

Solana ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.0132 per share. The ex-dividend date was Wednesday, June 17th.

Institutional Investors Weigh In On Solana ETF

Large investors have recently modified their holdings of the business. DRW Securities LLC raised its position in shares of Solana ETF by 195.7% during the fourth quarter. DRW Securities LLC now owns 203,824 shares of the company’s stock worth $2,597,000 after purchasing an additional 416,801 shares during the period. Tactive Advisors LLC grew its position in shares of Solana ETF by 715.1% in the 2nd quarter. Tactive Advisors LLC now owns 192,585 shares of the company’s stock valued at $1,421,000 after purchasing an additional 168,958 shares during the period. Galaxy Group Investments LLC acquired a new position in shares of Solana ETF in the 4th quarter valued at approximately $1,200,000. Militia Capital Partners LP bought a new stake in Solana ETF during the 2nd quarter worth approximately $1,516,000. Finally, Vienna Asset Management LLC acquired a new stake in Solana ETF during the 3rd quarter worth approximately $1,788,000.

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.