Short Interest in Global X Social Media ETF (NASDAQ:SOCL) Decreases By 50.8%

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

Hedge Funds Weigh In On Global X Social Media ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC purchased a new position in shares of Global X Social Media ETF in the 4th quarter worth $50,000. Kestra Advisory Services LLC purchased a new position in shares of Global X Social Media ETF in the 4th quarter worth $126,000. Rockefeller Capital Management L.P. boosted its stake in shares of Global X Social Media ETF by 47.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,714 shares of the company’s stock worth $150,000 after buying an additional 879 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Global X Social Media ETF in the 2nd quarter worth $213,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Global X Social Media ETF in the 2nd quarter worth $243,000.

Global X Social Media ETF Trading Down 0.6%

Shares of SOCL opened at $44.15 on Friday. The business’s fifty day simple moving average is $47.39 and its two-hundred day simple moving average is $53.55. Global X Social Media ETF has a 12 month low of $39.76 and a 12 month high of $63.93. The company has a market cap of $90.51 million, a price-to-earnings ratio of 21.77 and a beta of 1.04.

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.