SoFi Select 500 ETF (NYSEARCA:SFY) Short Interest Up 75.7% in March

SoFi Select 500 ETF (NYSEARCA:SFY) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 15,834 shares, an increase of 75.7% from the February 26th total of 9,011 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 28,787 shares, the short-interest ratio is currently 0.6 days.

SoFi Select 500 ETF Stock Performance

NYSEARCA SFY traded down $1.38 during trading hours on Friday, hitting $122.47. 8,989 shares of the company’s stock were exchanged, compared to its average volume of 23,808. The business’s 50 day moving average is $131.15 and its 200-day moving average is $131.13. SoFi Select 500 ETF has a 12-month low of $86.94 and a 12-month high of $135.83. The firm has a market capitalization of $520.50 million, a P/E ratio of -3.81 and a beta of 1.07.

Institutional Inflows and Outflows

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