And Now The Social Media ETF Confirms Addition of Twitter

ETF Trends

ETF Trends has learned the Global X Social Media Index ETF (SOCL) will add Twitter (TWTR) on Nov. 13.

SOCL tracks the Solactive Social Media Index, which allows for the inclusion of some stocks after the fifth trading day. SOCL, which is almost two years old, added Facebook (NasdqGM:FB) five days after that company’s May 2012 IPO.

Twitter raised $1.82 billion after selling 70 million shares at $26, above the offering range of $23-$25, on Thursday. Shares of Twitter surged 72.7% to close at $44.90 with a market cap of almost $24.5 billion. Despite that, SOCL lost 3.5% on volume of almost 645,640 shares, the ETF’s single biggest volume day and more than triple the daily average.

The rival Renaissance IPO ETF (IPO) , which debuted last month, has confirmed it will add Twitter on Nov. 13 as well.

SOCL has $105.8 million in assets under management. At a market cap of $24.4 billion, Twitter is more than quadruple the size of Sina (SINA), the Twitter of China and SOCL’s third-largest holding.

Global X Social Media Index ETF

View photo

.

socl

Rates

View Comments (0)