For investors seeking momentum, Global X Social Media ETF (SOCL Quick QuoteSOCL - Free Report) is probably on radar now. The fund just hit a 52-week high and is up more than 53% from its 52-week low price of $23.32/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

SOCL in Focus

This 32-stock fund looks to track the Solactive Social Media Total Return Index. The product charges 65 bps in fees. The fund is heavy on the United States (45.0%) followed by China (32.99%) and Japan (9.10%).

Why the Move?

FANG stocks are in a sweet spot thanks to Netflix’s historic subscriber growth figures. The video streaming behemoth released its fourth-quarter report this week. Netflix originally guided for 6.3 million new subscribers in the fourth quarter while it actually reported 6.36 million new international memberships alone. With its roughly 2 million domestic adds, the company gained 8.3 million new subscribers in the quarter. This very news pushed up this social media ETF to its 52-wek high.

More Gains Ahead? 

The fund has a Zacks ETF Rank #3 (Hold). Still, it seems that this fund might stay strong given a positive weighted alpha of 50.60. There is still some promise for investors who want to ride on this surging ETF.

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