Global X Social Media ETF (NASDAQ:SOCL) Sees Significant Decline in Short Interest

Global X Social Media ETF (NASDAQ:SOCL) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 8,948 shares, a decline of 37.7% from the April 30th total of 14,368 shares. Based on an average daily volume of 5,360 shares, the short-interest ratio is presently 1.7 days. Approximately 0.4% of the shares of the stock are short sold.

Global X Social Media ETF Stock Up 1.9%

Shares of SOCL stock opened at $48.16 on Friday. The business has a 50-day moving average price of $45.60 and a two-hundred day moving average price of $50.40. Global X Social Media ETF has a 12-month low of $41.35 and a 12-month high of $63.93. The firm has a market cap of $96.80 million, a P/E ratio of 21.77 and a beta of 1.01.

Institutional Investors Weigh In On Global X Social Media ETF

Several hedge funds have recently added to or reduced their stakes in SOCL. Northwestern Mutual Wealth Management Co. lifted its stake in Global X Social Media ETF by 161,517.7% during the fourth 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 third quarter worth about $2,618,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Global X Social Media ETF during the third quarter worth about $2,227,000. Bank of America Corp DE lifted its stake in Global X Social Media ETF by 8.9% during the first quarter. Bank of America Corp DE now owns 236,306 shares of the company’s stock worth $10,232,000 after purchasing an additional 19,333 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Global X Social Media ETF during the second quarter worth about $482,000.

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.