We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Global X Social Media ETF (SOCL) Hits a New 52-Week High
For investors looking for momentum, Global X Social Media ETF (SOCL - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 121.4% from its 52-week low price of $24.57/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
SOCL in Focus
This ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Social Media Total Return Index. It has AUM of $230 million and charges 65 basis points in annual fees.
Why the Move?
The coronavirus outbreak continues to aggravate in the United States and globally. In order to contain the spread of the virus, governments across the globe are again shutting down economic activities and imposing social-distancing measures. In the current scenario, people are increasingly opting for in-house entertainment sources and spending more time on social media, making funds like SOCL an attractive investment option.
More Gains Ahead?
It seems like the fund will remain strong, with a positive weighted alpha of 78.30, which gives cues of further rally.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free>>