Global X Social Media ETF (NASDAQ:SOCL) Shares Climb 1.8% – Time to Buy?

Global X Social Media ETF (NASDAQ:SOCL)’s share price shot up 1.8% during mid-day trading on Thursday. The company traded as high as $44.56 and last traded at $44.56. Approximately 3,905 shares traded hands during trading, a decline of 62% from the average daily volume of 10,202 shares. The stock had previously closed at $43.77.

Global X Social Media ETF Stock Performance

The firm has a market capitalization of $86.89 million, a price-to-earnings ratio of 21.77 and a beta of 1.01. The business has a 50 day moving average of $44.56 and a two-hundred day moving average of $45.26.

Institutional Trading of Global X Social Media ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of Global X Social Media ETF by 8.9% during the 1st 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 period. AAFMAA Wealth Management & Trust LLC grew its position in shares of Global X Social Media ETF by 5.1% during the 2nd quarter. AAFMAA Wealth Management & Trust LLC now owns 25,421 shares of the company’s stock valued at $1,114,000 after acquiring an additional 1,228 shares during the period. Parallel Advisors LLC grew its position in shares of Global X Social Media ETF by 555.6% during the 1st quarter. Parallel Advisors LLC now owns 5,900 shares of the company’s stock valued at $255,000 after acquiring an additional 5,000 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of Global X Social Media ETF by 47.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,714 shares of the company’s stock valued at $150,000 after acquiring an additional 879 shares during the period.

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.