SoFi Select 500 ETF (NYSEARCA:SFY) Sees Strong Trading Volume – Time to Buy?

SoFi Select 500 ETF (NYSEARCA:SFY) saw unusually-strong trading volume on Monday . 42,668 shares were traded during trading, an increase of 99% from the previous session’s volume of 21,486 shares.The stock last traded at $146.28 and had previously closed at $145.88.

SoFi Select 500 ETF Stock Up 0.6%

The firm’s 50-day moving average is $147.97 and its 200-day moving average is $138.02. The company has a market cap of $660.24 million, a PE ratio of -4.57 and a beta of 1.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new position in SoFi Select 500 ETF during the fourth quarter valued at $43,000. JPMorgan Chase & Co. bought a new position in shares of SoFi Select 500 ETF during the third quarter valued at $478,000. Marshall Wace LLP bought a new position in shares of SoFi Select 500 ETF during the second quarter valued at $499,000. Pathway Financial Advisers LLC raised its position in shares of SoFi Select 500 ETF by 9.1% in the 4th quarter. Pathway Financial Advisers LLC now owns 5,333 shares of the company’s stock worth $705,000 after purchasing an additional 447 shares during the last quarter. Finally, Nova Wealth Management Inc. raised its position in shares of SoFi Select 500 ETF by 27.2% in the 4th quarter. Nova Wealth Management Inc. now owns 17,663 shares of the company’s stock worth $2,334,000 after purchasing an additional 3,782 shares during the last quarter. Hedge funds and other institutional investors own 42.71% of the company’s stock.

SoFi Select 500 ETF Company Profile

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.