Global X Social Media ETF (NASDAQ:SOCL) Trading Up 2.5% – Time to Buy?

Global X Social Media ETF (NASDAQ:SOCL) was up 2.5% during trading on Monday . The stock traded as high as $57.14 and last traded at $57.05. Approximately 2,357 shares traded hands during trading, a decline of 76% from the average daily volume of 9,744 shares. The stock had previously closed at $55.68.

Global X Social Media ETF Stock Performance

The stock’s 50-day simple moving average is $59.13 and its 200 day simple moving average is $54.25. The company has a market capitalization of $153.46 million, a PE ratio of 21.77 and a beta of 0.94.

Hedge Funds Weigh In On Global X Social Media ETF

Large investors have recently bought and sold shares of the business. Cetera Investment Advisers purchased a new stake in Global X Social Media ETF in the first quarter valued at $328,000. Valeo Financial Advisors LLC purchased a new position in shares of Global X Social Media ETF during the second quarter worth about $213,000. Flow Traders U.S. LLC acquired a new stake in shares of Global X Social Media ETF during the second quarter worth about $291,000. Sei Investments Co. purchased a new stake in shares of Global X Social Media ETF in the 2nd quarter valued at about $299,000. Finally, Raymond James Financial Inc. lifted its holdings in shares of Global X Social Media ETF by 15.6% in the 2nd quarter. Raymond James Financial Inc. now owns 11,158 shares of the company’s stock valued at $596,000 after purchasing an additional 1,509 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.