SoFi Select 500 ETF (NYSEARCA:SFY) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

SoFi Select 500 ETF (NYSEARCA:SFY) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $143.67 and traded as high as $146.17. SoFi Select 500 ETF shares last traded at $145.75, with a volume of 17,118 shares.

SoFi Select 500 ETF Trading Up 2.7%

The firm has a market cap of $670.45 million, a price-to-earnings ratio of -4.54 and a beta of 1.11. The stock has a 50-day moving average of $152.10 and a 200-day moving average of $143.67.

Hedge Funds Weigh In On SoFi Select 500 ETF

A hedge fund recently raised its stake in SoFi Select 500 ETF stock. Sofi Wealth LLC boosted its position in SoFi Select 500 ETF (NYSEARCA:SFY) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,754,353 shares of the company’s stock after purchasing an additional 110,408 shares during the quarter. SoFi Select 500 ETF comprises 10.6% of Sofi Wealth LLC’s holdings, making the stock its 2nd biggest position. Sofi Wealth LLC owned approximately 39.42% of SoFi Select 500 ETF worth $218,978,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 42.71% of the company’s stock.

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.