Global X Social Media ETF (NASDAQ:SOCL) Stock Price Down 0.2% – Here’s Why

Shares of Global X Social Media ETF (NASDAQ:SOCL) dropped 0.2% during mid-day trading on Monday . The stock traded as low as $45.22 and last traded at $45.40. Approximately 8,811 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 10,961 shares. The stock had previously closed at $45.50.

Global X Social Media ETF Stock Down 1.0%

The firm has a market capitalization of $90.03 million, a P/E ratio of 21.77 and a beta of 1.02. The firm has a 50 day moving average of $45.58 and a 200-day moving average of $51.20.

Hedge Funds Weigh In On Global X Social Media ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 valued at $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 shares of Global X Social Media ETF during the 3rd quarter worth $2,618,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Global X Social Media ETF during the 3rd quarter worth $2,227,000. Bank of America Corp DE boosted its stake in Global X Social Media ETF by 8.9% in the first quarter. Bank of America Corp DE now owns 236,306 shares of the company’s stock valued at $10,232,000 after buying an additional 19,333 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Global X Social Media ETF in the second quarter valued at about $482,000.

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.