The X-factors for how SOCL performs today are Facebook (NasdaqGM: FB) and LinkedIn (NYSE: LNKD). Shares of Facebook lost almost 3% Wednesday evening in what could be a sympathy move with Twitter. Facebook is SOCL’s largest holding with a weight of almost 12% and has been known to previously chart the ETF’s course. [Facebook Lifts Social Media ETF]
LinkedIn could be the next catalyst, one way or the other, for SOCL. SOCL’s third-largest holding at a weight of nearly 9.1% delivers quarterly results after the close Thursday.
Global X Social Media Index ETF
ETF Trends editorial team contributed to this article. Tom Lydon’s clients own shares of Facebook.