Global X Social Media ETF (NASDAQ:SOCL) Shares Shorted: Short Interest Up 268.2% in October

Global X Social Media ETF (NASDAQ:SOCL) was the target of a significant growth in short interest in October. As of October 30th, there was short interest totaling 10,031 shares, a growth of 268.2% from the October 15th total of 2,724 shares. Based on an average daily volume of 7,113 shares, the short-interest ratio is currently 1.4 days. Approximately 0.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Global X Social Media ETF

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in Global X Social Media ETF by 8.9% in the 1st quarter. Bank of America Corp DE now owns 236,306 shares of the company’s stock worth $10,232,000 after purchasing an additional 19,333 shares in the last quarter. Parallel Advisors LLC increased its stake in Global X Social Media ETF by 555.6% during the 1st quarter. Parallel Advisors LLC now owns 5,900 shares of the company’s stock valued at $255,000 after purchasing an additional 5,000 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC increased its stake in Global X Social Media ETF by 5.1% during the 2nd quarter. AAFMAA Wealth Management & Trust LLC now owns 25,421 shares of the company’s stock valued at $1,114,000 after purchasing an additional 1,228 shares in the last quarter.

Global X Social Media ETF Stock Down 1.5%

Shares of SOCL stock traded down $0.62 during trading hours on Thursday, hitting $41.10. 4,537 shares of the company’s stock traded hands, compared to its average volume of 9,896. The stock’s fifty day simple moving average is $43.25 and its two-hundred day simple moving average is $45.87. Global X Social Media ETF has a 12-month low of $39.23 and a 12-month high of $59.06. The stock has a market cap of $78.08 million, a price-to-earnings ratio of 16.49 and a beta of 1.05.

About Global X Social Media ETF

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.