SoFi Select 500 ETF (NYSEARCA:SFY) Reaches New 52-Week High – Time to Buy?

SoFi Select 500 ETF (NYSEARCA:SFY)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $124.75 and last traded at $124.17, with a volume of 1145 shares trading hands. The stock had previously closed at $124.31.

SoFi Select 500 ETF Price Performance

The company’s 50 day simple moving average is $121.02 and its 200 day simple moving average is $111.29. The company has a market capitalization of $538.14 million, a PE ratio of -3.85 and a beta of 1.02.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SFY. Marshall Wace LLP acquired a new stake in shares of SoFi Select 500 ETF during the second quarter valued at approximately $499,000. Sofi Wealth LLC raised its stake in SoFi Select 500 ETF by 0.9% during the 2nd quarter. Sofi Wealth LLC now owns 1,753,995 shares of the company’s stock valued at $207,199,000 after purchasing an additional 16,457 shares during the period. Assetmark Inc. lifted its holdings in shares of SoFi Select 500 ETF by 205.5% in the second quarter. Assetmark Inc. now owns 2,517 shares of the company’s stock valued at $297,000 after purchasing an additional 1,693 shares in the last quarter. Nova Wealth Management Inc. boosted its position in shares of SoFi Select 500 ETF by 623.3% in the second quarter. Nova Wealth Management Inc. now owns 11,906 shares of the company’s stock worth $1,406,000 after buying an additional 10,260 shares during the period. Finally, Advisors Capital Management LLC grew its holdings in shares of SoFi Select 500 ETF by 624.3% during the first quarter. Advisors Capital Management LLC now owns 43,457 shares of the company’s stock valued at $4,429,000 after buying an additional 37,457 shares in the last quarter. 42.71% of the stock is owned by hedge funds and other institutional investors.

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.