Global X Social Media Index ETF (NASDAQ:SOCL) Stock Crosses Above 50-Day Moving Average – Here’s Why

Shares of Global X Social Media Index ETF (NASDAQ:SOCL) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $42.49 and traded as high as $43.32. Global X Social Media Index ETF shares last traded at $43.32, with a volume of 5,489 shares.

Global X Social Media Index ETF Trading Up 1.5 %

The firm has a fifty day simple moving average of $42.49 and a 200 day simple moving average of $41.57. The stock has a market cap of $123.03 million, a price-to-earnings ratio of 29.02 and a beta of 0.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Global X Social Media Index ETF by 106.1% in the 3rd quarter. FMR LLC now owns 1,591 shares of the company’s stock valued at $69,000 after buying an additional 819 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Global X Social Media Index ETF by 98.9% in the second quarter. Commonwealth Equity Services LLC now owns 13,884 shares of the company’s stock worth $586,000 after purchasing an additional 6,905 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Global X Social Media Index ETF during the third quarter worth about $1,391,000.

About Global X Social Media Index 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.