SoFi Select 500 ETF (NYSEARCA:SFY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of SoFi Select 500 ETF (NYSEARCA:SFY) saw strong trading volume on Tuesday . 2,862,881 shares changed hands 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 Trading Up 0.5 %

The stock has a market cap of $4.64 billion, a PE ratio of 24.94 and a beta of 1.07. The firm has a fifty day simple moving average of $111.01 and a two-hundred day simple moving average of $70.70.

Institutional Trading of SoFi Select 500 ETF

A number of hedge funds have recently made changes to their positions in the stock. Sofi Wealth LLC grew its position in 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 valued at $680,974,000 after acquiring an additional 2,135,524 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of SoFi Select 500 ETF in the 3rd quarter worth approximately $582,000. Fisher Asset Management LLC purchased a new stake in shares of SoFi Select 500 ETF in the 3rd quarter valued at $348,000. Finally, FMR LLC grew its holdings 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 purchasing an additional 9,130 shares during 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.