SoFi Select 500 ETF (NYSEARCA:SFY) Hits New 52-Week High – Still a Buy?

Shares of SoFi Select 500 ETF (NYSEARCA:SFY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $142.04 and last traded at $142.04, with a volume of 11470 shares trading hands. The stock had previously closed at $140.67.

SoFi Select 500 ETF Stock Down 0.4%

The firm has a market capitalization of $641.16 million, a price-to-earnings ratio of -4.48 and a beta of 1.09. The firm’s 50 day moving average is $132.05 and its 200 day moving average is $132.31.

Institutional Trading of SoFi Select 500 ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sofi Wealth LLC lifted its stake in SoFi Select 500 ETF by 6.7% during the first quarter. Sofi Wealth LLC now owns 1,754,353 shares of the company’s stock valued at $218,978,000 after purchasing an additional 110,408 shares during the last quarter. Nova Wealth Management Inc. lifted its stake in 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 valued at $2,334,000 after purchasing an additional 3,782 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in SoFi Select 500 ETF by 9.1% during 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 last quarter. Marshall Wace LLP acquired a new stake in SoFi Select 500 ETF during the second quarter valued at approximately $499,000. Finally, JPMorgan Chase & Co. acquired a new stake in SoFi Select 500 ETF during the third quarter valued at approximately $478,000. 42.71% of the stock is owned by institutional investors and hedge funds.

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.