SoFi Select 500 ETF (NYSEARCA:SFY) Sees Strong Trading Volume – Should You Buy?

Shares of SoFi Select 500 ETF (NYSEARCA:SFY) saw an uptick in trading volume on Monday . Approximately 42,668 shares traded hands during trading, an increase of 99% from the previous session’s volume of 21,486 shares.The stock last traded at $146.28 and had previously closed at $145.88.

SoFi Select 500 ETF Trading Up 1.4%

The business has a 50 day moving average of $147.97 and a two-hundred day moving average of $138.21. The firm has a market cap of $664.56 million, a P/E ratio of -4.60 and a beta of 1.10.

Hedge Funds Weigh In On SoFi Select 500 ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of SoFi Select 500 ETF during the 2nd quarter worth about $499,000. JPMorgan Chase & Co. acquired a new position in SoFi Select 500 ETF in the 3rd quarter valued at about $478,000. Nova Wealth Management Inc. grew its stake in SoFi Select 500 ETF by 27.2% in the 4th quarter. Nova Wealth Management Inc. now owns 17,663 shares of the company’s stock valued at $2,334,000 after buying an additional 3,782 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in SoFi Select 500 ETF by 9.1% during the fourth quarter. Pathway Financial Advisers LLC now owns 5,333 shares of the company’s stock worth $705,000 after acquiring an additional 447 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in SoFi Select 500 ETF during the fourth quarter worth approximately $43,000. 42.71% of the stock is currently owned by institutional investors and hedge funds.

SoFi Select 500 ETF Company Profile

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.