SoFi Select 500 ETF (NYSEARCA:SFY) Sets New 12-Month High – Still a Buy?

Shares of SoFi Select 500 ETF (NYSEARCA:SFY) reached a new 52-week high on Friday. The company traded as high as $155.91 and last traded at $155.8960, with a volume of 10339 shares changing hands. The stock had previously closed at $153.98.

SoFi Select 500 ETF Price Performance

The firm has a 50-day simple moving average of $151.55 and a 200-day simple moving average of $145.15. The firm has a market capitalization of $713.78 million, a PE ratio of -4.83 and a beta of 1.10.

Hedge Funds Weigh In On SoFi Select 500 ETF

A hedge fund recently raised its position in SoFi Select 500 ETF stock. Sofi Wealth LLC raised its stake in shares of SoFi Select 500 ETF (NYSEARCA:SFY) by 6.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,754,353 shares of the company’s stock after purchasing an additional 110,408 shares during the period. SoFi Select 500 ETF accounts for about 10.6% of Sofi Wealth LLC’s investment portfolio, making the stock its 2nd biggest holding. Sofi Wealth LLC owned approximately 39.42% of SoFi Select 500 ETF worth $218,978,000 as of its most recent filing with the SEC. 42.71% of the stock is currently owned by institutional investors and hedge funds.

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.