ETF Trends has learned the Global X Social Media Index ETF (NasdaqGS: SOCL) will add Twitter (NYSE: TWTR) on Nov. 13.
SOCL tracks the Solactive Social Media Index, which allows for the inclusion of some stocks after the fifth trading day. SOCL, which is almost two years old, added Facebook (NasdqGM: FB) five days after that company’s May 2012 IPO.
Twitter raised $1.82 billion after selling 70 million shares at $26, above the offering range of $23-$25, on Thursday. Shares of Twitter surged 72.7% to close at $44.90 with a market cap of almost $24.5 billion. Despite that, SOCL lost 3.5% on volume of almost 645,640 shares, the ETF’s single biggest volume day and more than triple the daily average.
The rival Renaissance IPO ETF (NYSEArca: IPO), which debuted last month, has confirmed it will add Twitter on Nov. 13 as well.
SOCL has $105.8 million in assets under management. At a market cap of $24.4 billion, Twitter is more than quadruple the size of Sina (NasdaqGM: SINA), the Twitter of China and SOCL’s third-largest holding.
Global X Social Media Index ETF