SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading lower Thursday after the stock rose 7% in Wednesday’s session. SOFI shares are down by more than 17% over the last month.
What To Know:
On Thursday, SoFi Technologies announced the launch of the SoFi Enhanced Yield ETF, THTA (NYSE:THTA). The fund will distribute monthly distributions via a portfolio of one to three month short-term Treasury Bills while also implementing a data-driven options overlay strategy which is actively managed by ZEGA Financial.
On Wednesday, Barclays analyst Terry Ma initiated coverage on SoFi Technologies with an Equal-Weight rating and announced a price target of $8.
SoFi shares are dropping on high volume Thursday with more than 29.3 million shares already traded in the session, compared to the stock’s 100-day average of 29.668 million shares.
SoFi Technologies’ stock has attracted attention from short-sellers with 13.11% of available SOFI shares being sold short, according to data from Benzinga Pro.
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SOFI Price Action: According to data from Benzinga Pro, SoFi Technologies shares are down by 8% at $6.78 at the time of publication.
Image: Dirk Wouters from Pixabay
