Social Media ETF Index Weights Facebook at 8.8%

May 25, 2012

 

After the end of yesterday’s trading session, Global X Social Media ETF (NYSEArca: SOCL) became the first ETF to offer exposure to Facebook, with an allocation of 8.8 percent of its weight to the social media giant, according to an article on Benzinga.

The changes will be reflected during today’s trading session, making Facebook the fund’s fourth-largest component behind LinkedIn, China’s Tencent Holdings and Sina, the article said.

SOCL’s assets under management have grown to over $25.1 million from $16 million since the May 18 launch of Facebook’s IPO, but the fund has lost close to 5 percent in that same time span, reports Benzinga.

To read the full story, go to Benzinga.com.

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