Folderwise test case Management in JIRA in Zephyr Squad?

We Want to organize test cases in folders so that it is easy to visualize all test cases in a product by features they test.

I Explored Create Cycle/Folder in Tests Tab, but unable to create a Folder on Parent level.

Is this feature not available in Zephyr Squad?
E.g.,
<Project>
   |_ <Feature1>
   |        |_<TC1>

   |        |_<TC2>
   |_ <Feature2>