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

Global X Social Media ETF (NASDAQ:SOCL) was the target of a significant decline in short interest in 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 days-to-cover ratio is currently 1.7 days. Approximately 0.4% of the shares of the stock are sold short.

Global X Social Media ETF Stock Performance

Shares of NASDAQ SOCL traded up $0.99 during midday trading on Thursday, reaching $48.27. The stock had a trading volume of 2,389 shares, compared to its average volume of 11,212. The stock has a 50-day moving average of $45.52 and a 200-day moving average of $50.44. The company has a market capitalization of $97.02 million, a price-to-earnings ratio of 21.77 and a beta of 1.02. Global X Social Media ETF has a 12-month low of $41.35 and a 12-month high of $63.93.

Hedge Funds Weigh In On Global X Social Media ETF

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in Global X Social Media ETF by 161,517.7% in 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 period. Bank of America Corp DE boosted its position in shares of 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 acquiring an additional 19,333 shares during the last quarter. Great Diamond Partners LLC boosted its position in shares of Global X Social Media ETF by 11.0% during the fourth quarter. Great Diamond Partners LLC now owns 46,397 shares of the company’s stock worth $2,562,000 after acquiring an additional 4,584 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Global X Social Media ETF during the third quarter valued at $2,618,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Global X Social Media ETF during the third quarter valued at $2,227,000.

About Global X Social Media 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.