Bringing you live news and features since 2006 

Global X launches first social media ETF

RELATED TOPICS​

Global X Funds, a New York based provider of exchange traded funds, has launched the Global X Social Media Index ETF (NASDAQ Ticker: SOCL), the first ETF globally to focus on social media companies.

The social media industry continues to grow rapidly, providing new ways for people to connect, share, shop, create and network. The Global X Social Media Index ETF attempts to capture this global industry in a single ETF, and includes companies from all over the world that provide social networking, file sharing, and other web-based media applications. 
 
User growth in social media has skyrocketed; a Pew Research Center survey says that in 2011 approximately 65% of adult internet users said that they use a social networking site, which is nearly double the percentage that reported social network usage in 2008. An increase in mobile phone usage has further propelled social media, with nearly 40% of social media users accessing such content directly from their mobile phones (Nielsen, 2011).  Not only are individual users tapped into this phenomenon, but approximately 84% of Fortune 100 companies utilise branded social media channels, while nearly 81% of the top Asian companies have expanded into branded social media channels, according to a 2011 study conducted by Burson-Marsteller. In the US social media use by small businesses has grown to include nearly one out of every three businesses, demonstrating rapid growth with room for further expansion (Network Solutions, 2011).

“SOCL can provide an efficient way to tap into this global, dynamic sector,” says Bruno del Ama (pictured), chief executive officer of Global X Funds. “As the industry continues to expand through IPOs, the index will capture these new companies shortly after their public debut, providing a relatively cost effective way to gain exposure to the social media industry.”

The Global X Social Media Index ETF tracks the Solactive Social Media Index, which is designed to reflect the equity performance of companies involved in the social media industry. As of November 11, 2011, the Underlying Index’s three largest stocks were DeNA Co., Sina Corp. and Netease.com Inc. International country exposure as of November 11, 2011 includes: China [36.28%], US [26.22%], Japan [19.95%], Russia [9.55%], Germany [2.28%], and other [5.65%].

 

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by