SoFi Select 500 ETF (NYSEARCA:SFY) Sees Large Volume Increase – Here’s What Happened

Shares of SoFi Select 500 ETF (NYSEARCA:SFY) saw an uptick in trading volume on Tuesday . 2,862,881 shares were traded during mid-day trading, an increase of 894% from the previous session’s volume of 288,103 shares.The stock last traded at $112.63 and had previously closed at $111.35.

SoFi Select 500 ETF Stock Performance

The company has a market cap of $4.56 billion, a price-to-earnings ratio of 24.94 and a beta of 1.07. The company’s 50 day moving average price is $110.95 and its 200 day moving average price is $69.74.

Institutional Investors Weigh In On SoFi Select 500 ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of SoFi Select 500 ETF by 106.3% during the 3rd quarter. FMR LLC now owns 17,716 shares of the company’s stock valued at $368,000 after acquiring an additional 9,130 shares during the last quarter. Fisher Asset Management LLC acquired a new position in SoFi Select 500 ETF during the third quarter valued at approximately $348,000. Jane Street Group LLC bought a new stake in SoFi Select 500 ETF in the third quarter valued at approximately $582,000. Finally, Sofi Wealth LLC boosted its position in shares of SoFi Select 500 ETF by 7.0% during the third quarter. Sofi Wealth LLC now owns 32,770,650 shares of the company’s stock worth $680,974,000 after purchasing an additional 2,135,524 shares in the last quarter.

About SoFi Select 500 ETF

The SoFi Select 500 ETF (SFY) is an exchange-traded fund that is based on the Solactive SoFi US 500 Growth index. The fund tracks a multi-factor-weighted index of US large-cap equities selected by market-cap. SFY was launched on Apr 11, 2019 and is managed by SoFi.