2x Solana ETF (NASDAQ:SOLT) Trading Down 9.4% – Should You Sell?

2x Solana ETF (NASDAQ:SOLT)’s share price traded down 9.4% on Thursday . The stock traded as low as $5.73 and last traded at $5.77. 19,349,367 shares were traded during mid-day trading, an increase of 273% from the average session volume of 5,191,724 shares. The stock had previously closed at $6.37.

2x Solana ETF Trading Down 9.4%

The company’s 50-day simple moving average is $11.95 and its 200-day simple moving average is $17.67.

2x Solana ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 15th were paid a $0.004 dividend. The ex-dividend date was Monday, December 15th. This represents a c) annualized dividend and a yield of 0.8%.

Institutional Investors Weigh In On 2x Solana ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Flow Traders U.S. LLC bought a new stake in 2x Solana ETF in the 2nd quarter valued at about $238,000. IFP Advisors Inc acquired a new stake in 2x Solana ETF during the third quarter worth approximately $86,000. Finally, Highline Wealth Partners LLC bought a new position in 2x Solana ETF during the 2nd quarter worth $43,000.

2x Solana ETF Company Profile

The 2x Solana ETF (SOLT) is an exchange-traded fund managed by Volatility Shares, a U.S.-based investment management firm. This ETF seeks to provide investors with twice the daily exposure to Solana’s price movements through leveraged strategies, without the need for direct cryptocurrency ownership. It is designed for sophisticated investors seeking tactical cryptocurrency trading opportunities who understand the amplified risks associated with leveraged exposure.