The Global X Social Media ETF (NASDAQ: SOCL) is down 13.2 percent this year, a decline that might imply short interest in the dedicated social media exchange traded fund and its nearly 30 holdings is on the rise.
SOCL's top 10 holdings, a group that combines for about 70 percent of the ETF's weight, reads like a graveyard of Internet and social media stocks. It is reasonable to surmise that if not for the 3.1 percent year-to-date gain posted by Facebook Inc (NASDAQ: FB), SOCL's largest holding at a weight of 12.4 percent, the ETF's 2016 showing would be even worse.
Still, short sellers have not been attacking the ETF and its constituents the way some would expect.
“SOCL constituents saw short interest hover at two year lows prior ...
/www.benzinga.com/etfs/sector-etfs/16/02/6740197/bears-miss-opportunity-with-social-media-etf alt=Bears Miss Opportunity With Social Media ETF>Full story available on Benzinga.com
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