Global X Social Media ETF (NASDAQ:SOCL) Short Interest Down 50.8% in March

Global X Social Media ETF (NASDAQ:SOCL) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 6,483 shares, a decline of 50.8% from the March 15th total of 13,164 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,342 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of Global X Social Media ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOCL. Northwestern Mutual Wealth Management Co. raised its holdings in Global X Social Media ETF by 161,517.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 265,053 shares of the company’s stock worth $14,634,000 after purchasing an additional 264,889 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Global X Social Media ETF during the 3rd quarter worth about $2,618,000. Great Diamond Partners LLC bought a new stake in Global X Social Media ETF during the 3rd quarter worth about $2,540,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Global X Social Media ETF during the 3rd quarter worth about $2,227,000. Finally, Jane Street Group LLC bought a new stake in Global X Social Media ETF during the 2nd quarter worth about $482,000.

Global X Social Media ETF Stock Performance

NASDAQ:SOCL traded up $1.08 on Tuesday, hitting $45.98. 4,416 shares of the stock were exchanged, compared to its average volume of 12,905. The stock has a market capitalization of $94.26 million, a price-to-earnings ratio of 21.77 and a beta of 1.04. Global X Social Media ETF has a 52 week low of $39.76 and a 52 week high of $63.93. The company’s 50-day moving average price is $47.03 and its 200 day moving average price is $53.30.

Global X Social Media 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.