Social Media ETF Likes Facebook IPO Speculation | ETF Trends

The social media exchange traded fund has been moving higher on increased trading volume in recent days on anticipation Facebook could file for an initial public offering as soon as this week.

Global X Social Media Index ETF (NasdaqGM: SOCL), the first social media-based ETF, listed in November. It tracks a benchmark of companies engaged in the social media industry, including companies involved in social networking, file sharing and other web-based media applications.

The fund has an expense ratio of 0.65%.

“SOCL can provide an efficient way to tap into this global, dynamic sector,” Bruno del Ama, chief executive officer of Global X Funds, said at the fund’s launch. “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.”

Facebook, which has more than 800 million members, could file for an IPO as early as this week, The Wall Street Journal reported.