SoFi Select 500 ETF (NYSEARCA:SFY) Sees Large Volume Increase – Time to Buy?

Shares of SoFi Select 500 ETF (NYSEARCA:SFY) saw unusually-high trading volume on Tuesday . Approximately 489,779 shares changed hands during mid-day trading, an increase of 115% from the previous session’s volume of 228,193 shares.The stock last traded at $110.93 and had previously closed at $109.93.

SoFi Select 500 ETF Stock Up 0.6 %

The company has a market cap of $4.52 billion, a PE ratio of 24.94 and a beta of 1.07. The stock has a 50-day moving average of $111.25 and a 200-day moving average of $73.91.

Hedge Funds Weigh In On SoFi Select 500 ETF

A number of hedge funds have recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in SoFi Select 500 ETF in the fourth quarter worth about $81,000. Fisher Asset Management LLC purchased a new position in shares of SoFi Select 500 ETF in the 3rd quarter valued at approximately $348,000. FMR LLC boosted its position in shares of SoFi Select 500 ETF by 106.3% during the third quarter. FMR LLC now owns 17,716 shares of the company’s stock valued at $368,000 after purchasing an additional 9,130 shares in the last quarter. Jane Street Group LLC purchased a new stake in SoFi Select 500 ETF in the third quarter worth $582,000. Finally, Sofi Wealth LLC raised its holdings in SoFi Select 500 ETF by 7.0% in 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.