“SOCL has broken through its 50 day moving average for the first time since early December of last year, largely on weakness from top components Tencent Holdings and Sina (NasdaqGM: SINA) stemming from China’s broad equity sell-off,” said Street One Financial in a note out Monday. [Not so Social With This ETF]
China is not the only reason to keep an eye on SOCL in the near-term. Starting Wednesday and going through Feb. 6, Facebook, Google (NasdaqGM: GOOG), Twitter and LinkedIn deliver earnings. Those stocks combine for over 30% of SOCL’s weight.
Global X Social Media Index ETF
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Facebook and Google.