SoFi Select 500 ETF (NYSEARCA:SFY) Sees Large Volume Increase – Here’s What Happened

SoFi Select 500 ETF (NYSEARCA:SFY) saw unusually-high trading volume on Thursday . Approximately 46,635 shares traded hands during mid-day trading, an increase of 97% from the previous session’s volume of 23,719 shares.The stock last traded at $132.8550 and had previously closed at $135.30.

SoFi Select 500 ETF Stock Down 0.7%

The stock has a market capitalization of $577.66 million, a price-to-earnings ratio of -4.18 and a beta of 1.07. The company has a fifty day moving average of $132.81 and a two-hundred day moving average of $128.88.

Institutional Investors Weigh In On SoFi Select 500 ETF

Several hedge funds have recently modified their holdings of SFY. Assetmark Inc. raised its stake in shares of SoFi Select 500 ETF by 205.5% in the 2nd quarter. Assetmark Inc. now owns 2,517 shares of the company’s stock valued at $297,000 after purchasing an additional 1,693 shares in the last quarter. Sofi Wealth LLC boosted its position in shares of SoFi Select 500 ETF by 0.9% during the 2nd quarter. Sofi Wealth LLC now owns 1,753,995 shares of the company’s stock valued at $207,199,000 after purchasing an additional 16,457 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of SoFi Select 500 ETF during the second quarter valued at $499,000. Nova Wealth Management Inc. grew its position in SoFi Select 500 ETF by 16.6% during the 3rd quarter. Nova Wealth Management Inc. now owns 13,881 shares of the company’s stock worth $1,793,000 after purchasing an additional 1,975 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in SoFi Select 500 ETF in the 3rd quarter valued at $478,000. 42.71% of the stock is currently owned by hedge funds and other institutional investors.

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.