SoFi Select 500 ETF (NYSEARCA:SFY) Sees Unusually-High Trading Volume – What’s Next?

SoFi Select 500 ETF (NYSEARCA:SFY) saw strong trading volume on Tuesday. 36,928 shares changed hands during trading, an increase of 88% from the previous session’s volume of 19,637 shares. The stock last traded at $157.87 and had previously closed at $156.40.

SoFi Select 500 ETF Price Performance

The stock has a fifty day moving average price of $151.99 and a 200 day moving average price of $145.52. The stock has a market capitalization of $724.90 million, a P/E ratio of -4.90 and a beta of 1.10.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in SoFi Select 500 ETF stock. Sofi Wealth LLC grew its stake in shares of SoFi Select 500 ETF (NYSEARCA:SFY) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,754,353 shares of the company’s stock after buying an additional 110,408 shares during the period. SoFi Select 500 ETF accounts for approximately 10.6% of Sofi Wealth LLC’s portfolio, making the stock its 2nd largest holding. Sofi Wealth LLC owned approximately 39.42% of SoFi Select 500 ETF worth $218,978,000 at the end of the most recent reporting period. 42.71% of the stock is owned by institutional investors and hedge funds.

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.