ETF Trends
ETF Trends

Despite the brief misstep in late summer, the social media exchange traded fund is gaining momentum on the improved earnings season and is waiting on Facebook (NasdaqGS: FB) to report later Wednesday.

The Global X Social Media Index ETF (NasdaqGM: SOCL) jumped 10.2% over the past month and is up 9.5% year-to=date.

Facebook will announce its quarterly results after the close Wednesday. FB shares were 1.5% higher late in the session on expectations that the social networking site could post strong third quarter results, TheStreet reports.

Facebook is enjoying a solid financial position with reasonable debt levels, steady cash flow from operations, rising profit margins and stock price momentum.

SOCL’s second largest component holding is FB at 10.2%.

The social media sector has been rising on strengthening earnings results. For instance, LinkedIn (NYSE: LNKD) reported better-than-expected quarterly results on both the top and bottomline last week, Forbes reported.

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