The stock was added to the tracking benchmark, the Solactive Social Media Index, after five days of trading.
Global X Social Media Index ETF (SOCL - News) holds assets of about $25 million and trading volume in the fund spiked last Friday when Facebook went public. SOCL charges net annual operating expenses of 0.65%.
The ETF’s top holding is LinkedIn (LNKD - News), which went public last year, at 10.2% of the portfolio. [FOX Interview: Tom Lydon Says Facebook to Join These ETFs]
SOCL has taken a hit on the disappointing Facebook IPO and is down more than 10% for the trailing month.
The Facebook IPO was marred by trading delays and glitches at the Nasdaq, and the stock has traded below the offer price of $32 a share this week.
Facebook may also soon enter First Trust US IPO Index Fund (FPX - News). IPOs are eligible for the ETF’s tracking index only after trading for at least six days. Stocks are held for as long as 1,000 trading days. [IPO ETF Won’t Catch First-Day Surge]
Global X Social Media Index ETF