SoFi Select 500 ETF (NYSEARCA:SFY) Sees Significant Increase in Short Interest

SoFi Select 500 ETF (NYSEARCA:SFY) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 19,166 shares, a growth of 49.2% from the January 29th total of 12,848 shares. Based on an average daily volume of 19,234 shares, the short-interest ratio is presently 1.0 days. Approximately 0.5% of the shares of the company are sold short. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 19,234 shares, the short-interest ratio is presently 1.0 days.

SoFi Select 500 ETF Price Performance

Shares of SFY stock traded up $0.47 during midday trading on Monday, hitting $131.92. The company had a trading volume of 39,161 shares, compared to its average volume of 22,738. The company’s 50 day simple moving average is $133.08 and its 200 day simple moving average is $130.56. SoFi Select 500 ETF has a 52-week low of $86.94 and a 52-week high of $135.83. The stock has a market cap of $560.64 million, a price-to-earnings ratio of -4.11 and a beta of 1.07.

Institutional Trading of SoFi Select 500 ETF

Several hedge funds and other institutional investors have recently made changes to their positions in SFY. Assetmark Inc. increased its stake in shares of SoFi Select 500 ETF by 205.5% during the second quarter. Assetmark Inc. now owns 2,517 shares of the company’s stock worth $297,000 after acquiring an additional 1,693 shares during the period. Sofi Wealth LLC boosted its holdings in SoFi Select 500 ETF by 0.9% in 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 position in shares of SoFi Select 500 ETF during the 2nd quarter worth approximately $499,000. Nova Wealth Management Inc. raised its stake in shares of 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 buying an additional 1,975 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of SoFi Select 500 ETF in the third quarter valued at approximately $478,000. 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.