Social Media ETF Allocates 4.5% to Twitter
November 15th, 2013 at 6:00am by Tom Lydon
The Global X Social Media Index ETF (NasdaqGS: SOCL) has allocated 4.5% of its weight to newly public social media firm Twitter (NYSE: TWTR), making the stock the ETF’s eleventh-largest holding.
At a weight of 4.5%, Twitter is just behind Yandex (NasdaqGM: YNDX), the Google (NasdaqGM: GOOG) of Russia, in SOCL’s lineup. SOCL joins the Renaissance IPO ETF (NYSEArca: IPO) as the first ETF’s to add Twitter to their respective lineups. [Twitter ETF Update]
Twitter is IPO’s tenth-largest holding, but its weight in that ETF is slightly more than half what it is in SOCL. [Twitter Enters IPO ETF as Top-10 Holding]
After surging almost 5% on Thursday, Twitter has a market value of $24.3 billion. That is more than Zynga (NasdaqGM: ZNGA), Yelp (NYSE: YELP) and Groupon (NasdaqGM: GRPN), SOCL’s seventh- through ninth-largest holdings, combined.
Sina (NasdaqGM: SINA), the Twitter of China, is SOCL’s largest holding with a weight of 9.92%. SOCL has nearly $107 million in assets under management and is up 47.4% this year.
Global X Social Media Index ETF
ETF Trends editorial team contributed to this post.
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