SoFi Select 500 ETF (NYSEARCA:SFY) Short Interest Up 75.7% in March

SoFi Select 500 ETF (NYSEARCA:SFY) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 15,834 shares, a growth of 75.7% from the February 26th total of 9,011 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 28,787 shares, the days-to-cover ratio is currently 0.6 days.

SoFi Select 500 ETF Stock Down 1.1%

NYSEARCA SFY traded down $1.38 during mid-day trading on Friday, hitting $122.47. The stock had a trading volume of 8,989 shares, compared to its average volume of 23,808. SoFi Select 500 ETF has a 52-week low of $86.94 and a 52-week high of $135.83. The company has a market cap of $520.50 million, a price-to-earnings ratio of -3.81 and a beta of 1.07. The company has a 50 day simple moving average of $131.15 and a 200 day simple moving average of $131.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of SoFi Select 500 ETF during the 4th quarter worth $43,000. JPMorgan Chase & Co. acquired a new stake in SoFi Select 500 ETF in the 3rd quarter valued at about $478,000. Marshall Wace LLP acquired a new stake in SoFi Select 500 ETF in the 2nd quarter valued at about $499,000. Pathway Financial Advisers LLC increased its holdings 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 acquiring an additional 447 shares in the last quarter. Finally, Nova Wealth Management Inc. increased its holdings in 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 valued at $1,793,000 after acquiring an additional 1,975 shares in 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.