Global X Social Media Index ETF (NASDAQ:SOCL) Trading Up 0.5% – Time to Buy?

Global X Social Media Index ETF (NASDAQ:SOCL) shares were up 0.5% during mid-day trading on Monday . The stock traded as high as $42.25 and last traded at $41.89. Approximately 50,027 shares were traded during mid-day trading, an increase of 259% from the average daily volume of 13,944 shares. The stock had previously closed at $41.68.

Global X Social Media Index ETF Trading Up 0.5 %

The company has a market cap of $118.97 million, a price-to-earnings ratio of 29.02 and a beta of 0.94. The business has a 50-day moving average price of $41.07 and a 200 day moving average price of $41.52.

Hedge Funds Weigh In On Global X Social Media Index ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Global X Social Media Index ETF during the 1st quarter worth about $5,465,000. Manchester Capital Management LLC lifted its position in shares of Global X Social Media Index ETF by 35.0% in the first quarter. Manchester Capital Management LLC now owns 2,700 shares of the company’s stock worth $109,000 after purchasing an additional 700 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Global X Social Media Index ETF by 98.9% during the second quarter. Commonwealth Equity Services LLC now owns 13,884 shares of the company’s stock worth $586,000 after purchasing an additional 6,905 shares during the period.

About Global X Social Media Index ETF

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.