Global X Social Media ETF (NASDAQ:SOCL) Shares Down 2.1% – Should You Sell?

Global X Social Media ETF (NASDAQ:SOCL) shares were down 2.1% during mid-day trading on Monday . The company traded as low as $45.72 and last traded at $45.73. Approximately 7,693 shares traded hands during trading, a decline of 23% from the average session volume of 9,979 shares. The stock had previously closed at $46.70.

Global X Social Media ETF Stock Down 2.1%

The company’s 50-day moving average is $45.57 and its two-hundred day moving average is $46.69. The company has a market capitalization of $91.00 million, a P/E ratio of 21.77 and a beta of 1.02.

Global X Social Media ETF Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 29th were paid a $0.0882 dividend. The ex-dividend date of this dividend was Monday, June 29th.

Institutional Trading of Global X Social Media ETF

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in Global X Social Media ETF by 161,517.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 265,053 shares of the company’s stock worth $14,634,000 after acquiring an additional 264,889 shares in the last quarter. Raymond James Financial Inc. raised its position in Global X Social Media ETF by 15.6% during the second quarter. Raymond James Financial Inc. now owns 11,158 shares of the company’s stock valued at $596,000 after purchasing an additional 1,509 shares in the last quarter. Osaic Holdings Inc. raised its position in Global X Social Media ETF by 5.8% during the fourth quarter. Osaic Holdings Inc. now owns 6,865 shares of the company’s stock valued at $380,000 after purchasing an additional 376 shares in the last quarter. Virtu Financial LLC bought a new stake in Global X Social Media ETF during the fourth quarter worth about $347,000. Finally, Cetera Investment Advisers lifted its stake in Global X Social Media ETF by 53.5% during the fourth quarter. Cetera Investment Advisers now owns 5,951 shares of the company’s stock worth $329,000 after purchasing an additional 2,074 shares during the last quarter.

Global X Social Media ETF Company Profile

The Global X Social Media ETF (SOCL) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a modified market-cap-weighted index of social media companies selected by a committee. SOCL was launched on Nov 14, 2011 and is managed by Global X.