What's Going On With SoFi Technologies Stock Today?

by Erica Kollmann Benzinga Staff Writer

Zinger Key Points

SoFi Technologies announces the launch of the SoFi Enhanced Yield ETF, THTA.
SoFi's new THTA ETF holds a portfolio of short-term Treasury Bills and implements an options overlay strategy.
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SoFi Technologies, Inc. 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 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.

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

SOFISoFi Technologies Inc

$26.89-1.95%