$SoFi Technologies Inc.(SOFI)$ Here's what has been in the news for SoFi Technologies Inc. ($SOFI):
Institutional Investment Updates:
There have been notable increases in institutional ownership. Wells Fargo reportedly increased its stake by 34%, adding 2 million shares, bringing their total to 7.1 million shares with a value of $110 million.
Soros Capital Management has opened a new position in SoFi, acquiring 515,500 shares valued at $8 million. These moves suggest a growing confidence from institutional investors.
Vanguard's Addition:
Vanguard reported an addition of 8.9 million shares of SoFi, now holding a total of 98.3 million shares worth $1.45 billion, further solidifying the positive sentiment among major investors.
Wyndham Hotels Deal:
There's been mention of a partnership with Wyndham Hotels, which could be a strategic move to expand SoFi's service offerings or customer base, although specifics are not detailed in the available data.
Short Interest:
SoFi has seen a decline in short interest by 4.7% following their Q4 earnings, now at a 2-year low of 11.9%. This indicates that fewer investors are betting against the stock, which is generally a positive sign for stock price movement.
Stock Performance:
There's been some volatility in the share price, with mentions of a pullback but also a recovery, pushing the stock price back above $16. This could be attributed to the positive news around institutional buying and strategic business developments.
These updates reflect a mix of strategic business moves, significant institutional investor actions, and market sentiment shifts that are driving interest in SoFi's stock.
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