Investors who are interested in diversified exposure to these growing internet names can utilize ETFs that track social media and internet sub-sectors. For instance, the Global X Social Media Index ETF (NasdaqGM: SOCL) includes GOOG 4.9% and FB 10.3%. SOCL is finally breaking out of its downtrend from the September high, according to J.C. Parets for All Star Charts. Additionally, SOCL has been trading in an ascending triangle formation since breaking out in February – the bullish chart pattern illustrates a horizontal resistance level coupled with a second upward trendline that connects the series of rising lows. Consequently, a breakout above this new horizontal resistance can be a very bullish indicator for chart watchers. [Social Media ETF Could Finally be Ready to Socialize]
Moreover, the PowerShares NASDAQ Internet Portfolio (NasdaqGS: PNQI) and the First Trust Dow Jones Internet Index Fund (NYSEArca: FDN) both include prominent growth names. PNQI holds AMZN 8.9%, FB 8.0%, GOOG 7.9%, GOOGL 7.8%, NFLX 5.4% and PCLN 4.2%. FDN tracks AMZN 8.3%, FB 7.9%, PCLN 5.5%, GOOG 4.7%, GOOGL 4.7% and NFLX 4.4%. [Internet ETFs Confirm Rally Likes Risk]
For more information on the tech space, visit our technology category.
Max Chen contributed to this article.