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

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

Global X Social Media ETF Price Performance

NASDAQ SOCL opened at $48.39 on Wednesday. The company’s 50 day moving average is $45.39 and its 200-day moving average is $50.56. 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 $97.26 million, a P/E ratio of 21.77 and a beta of 1.02.

Institutional Trading of Global X Social Media ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of Global X Social Media ETF by 5.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,825 shares of the company’s stock worth $293,000 after buying an additional 269 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Global X Social Media ETF by 5.8% during the 4th quarter. Osaic Holdings Inc. now owns 6,865 shares of the company’s stock valued at $380,000 after purchasing an additional 376 shares during the last quarter. Flow Traders U.S. LLC grew its holdings in shares of Global X Social Media ETF by 10.1% during the 3rd quarter. Flow Traders U.S. LLC now owns 6,001 shares of the company’s stock valued at $365,000 after purchasing an additional 550 shares during the last quarter. UBS Group AG grew its holdings in shares of Global X Social Media ETF by 3.0% during the 3rd quarter. UBS Group AG now owns 24,842 shares of the company’s stock valued at $1,509,000 after purchasing an additional 734 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings 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 purchasing an additional 879 shares during the last quarter.

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.