SoFi Select 500 ETF (NYSEARCA:SFY) Sees Unusually-High Trading Volume – Still a Buy?

SoFi Select 500 ETF (NYSEARCA:SFY) saw strong trading volume on Tuesday . 489,779 shares changed hands during trading, an increase of 115% from the previous session’s volume of 228,193 shares.The stock last traded at $110.93 and had previously closed at $109.93.

SoFi Select 500 ETF Stock Performance

The company’s 50-day moving average price is $111.19 and its two-hundred day moving average price is $72.38. The stock has a market cap of $4.54 billion, a PE ratio of 24.94 and a beta of 1.07.

Hedge Funds Weigh In On SoFi Select 500 ETF

A number of large investors have recently modified their holdings of SFY. Fisher Asset Management LLC bought a new stake in SoFi Select 500 ETF in the third quarter worth $348,000. FMR LLC boosted its holdings in SoFi Select 500 ETF by 106.3% during the 3rd quarter. FMR LLC now owns 17,716 shares of the company’s stock valued at $368,000 after acquiring an additional 9,130 shares during the period. Jane Street Group LLC bought a new position in SoFi Select 500 ETF during the 3rd quarter worth approximately $582,000. Finally, Sofi Wealth LLC increased its stake in SoFi Select 500 ETF by 7.0% in the 3rd quarter. Sofi Wealth LLC now owns 32,770,650 shares of the company’s stock worth $680,974,000 after purchasing an additional 2,135,524 shares during the period.

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.