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
Social Media ETF (SOCL) Hits New 52-Week High
For investors seeking momentum, Global X Social Media ETF (SOCL - 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.
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 >>