Solana ETF (NASDAQ:SOLZ) Shares Gap Up – Still a Buy?

Shares of Solana ETF (NASDAQ:SOLZ) gapped up prior to trading on Friday . The stock had previously closed at $10.05, but opened at $10.56. Solana ETF shares last traded at $10.8350, with a volume of 388,732 shares traded.

Solana ETF Trading Up 9.8%

The business has a fifty day simple moving average of $8.58 and a 200-day simple moving average of $8.39.

Institutional Investors Weigh In On Solana ETF

A number of hedge funds have recently made changes to their positions in SOLZ. Tactive Advisors LLC boosted its position in shares of Solana ETF by 715.1% in the second quarter. Tactive Advisors LLC now owns 192,585 shares of the company’s stock valued at $1,421,000 after acquiring an additional 168,958 shares during the period. Galaxy Digital Capital Management GP LLC raised its position in shares of Solana ETF by 4.3% in the first quarter. Galaxy Digital Capital Management GP LLC now owns 98,292 shares of the company’s stock worth $822,000 after buying an additional 4,081 shares in the last quarter. rebel Financial LLC purchased a new stake in shares of Solana ETF in the first quarter worth $121,000. Finally, Maridea Wealth Management LLC bought a new stake in Solana ETF during the first quarter valued at $170,000.

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.