SoFi Select 500 ETF (NYSEARCA:SFY) Sees Large Increase in Short Interest
by Mitch Edgeman · The Markets DailySoFi Select 500 ETF (NYSEARCA:SFY – Get Free Report) was the target of a large 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. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 28,787 shares, the days-to-cover ratio is currently 0.6 days.
Hedge Funds Weigh In On SoFi Select 500 ETF
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nova Wealth Management Inc. increased its position in shares of SoFi Select 500 ETF by 27.2% during 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. Pathway Financial Advisers LLC grew its stake in SoFi Select 500 ETF by 9.1% during the 4th 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 in the last quarter. Marshall Wace LLP purchased a new stake in SoFi Select 500 ETF during the 2nd quarter worth approximately $499,000. JPMorgan Chase & Co. purchased a new stake in SoFi Select 500 ETF during the 3rd quarter worth approximately $478,000. Finally, Root Financial Partners LLC acquired a new position in shares of SoFi Select 500 ETF in the 4th quarter valued at approximately $43,000. 42.71% of the stock is owned by hedge funds and other institutional investors.
SoFi Select 500 ETF Price Performance
NYSEARCA SFY traded down $2.34 on Friday, reaching $121.51. The company had a trading volume of 20,197 shares, compared to its average volume of 24,073. SoFi Select 500 ETF has a 1 year low of $86.94 and a 1 year high of $135.83. The firm has a 50-day moving average of $130.90 and a 200-day moving average of $131.14. The firm has a market capitalization of $516.42 million, a PE ratio of -3.78 and a beta of 1.07.
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.