Global X Social Media Index ETF (NASDAQ:SOCL) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Global X Social Media Index ETF (NASDAQ:SOCL) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $42.49 and traded as high as $43.32. Global X Social Media Index ETF shares last traded at $43.32, with a volume of 5,489 shares trading hands.

Global X Social Media Index ETF Price Performance

The business’s 50 day simple moving average is $42.49 and its 200 day simple moving average is $41.59. The stock has a market cap of $123.03 million, a P/E ratio of 29.02 and a beta of 0.94.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Global X Social Media Index ETF by 106.1% in the 3rd quarter. FMR LLC now owns 1,591 shares of the company’s stock worth $69,000 after purchasing an additional 819 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Global X Social Media Index ETF by 98.9% in the second quarter. Commonwealth Equity Services LLC now owns 13,884 shares of the company’s stock valued at $586,000 after buying an additional 6,905 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Global X Social Media Index ETF during the third quarter worth about $1,391,000.

Global X Social Media Index ETF Company Profile

The Global X Social Media ETF (SOCL) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a modified market-cap-weighted index of social media companies selected by a committee. SOCL was launched on Nov 14, 2011 and is managed by Global X.