”The Facebook IPO and the rumored valuation at around $75-$100 billion is raising the spotlight on the entire social media space,” said del Ama at Global X in a Barron’s report.
“The fund started pretty slow, but volume has really picked up over the excitement about Facebook. This is a good event for social media stocks at a time when the overall market has been flat to slightly down,” he added.
The new ETF is tiny with about $1.4 million in assets. The fund’s holdings can be viewed here.
Global X Social Media Index ETF (NasdaqGM: SOCL)