For buyers on the lookout for momentum, International X Social Media ETF SOCL might be an acceptabl
For buyers on the lookout for momentum, International X Social Media ETF SOCL might be an acceptable decide. The fund simply hit a 52-week excessive and is up 121.4% from its 52-week low worth of $24.57/share.
Let’s check out the fund and its near-term outlook to achieve an perception into the place it may be headed:
SOCL in Focus
This ETF seeks to supply funding outcomes that correspond usually to the worth and yield efficiency, earlier than charges and bills, of the Solactive Social Media Whole Return Index. It has AUM of $230 million and costs 65 foundation factors in annual charges.
Why the Transfer?
The coronavirus outbreak continues to worsen in the US and globally. With a purpose to comprise the unfold of the virus, governments throughout the globe are once more shutting down financial actions and imposing social-distancing measures. Within the present situation, individuals are more and more choosing in-house leisure sources and spending extra time on social media, making funds like SOCL a sexy funding choice.
Extra Positive factors Forward?
It looks as if the fund will stay sturdy, with a constructive weighted alpha of 78.30, which supplies cues of additional rally.
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International X Social Media ETF (SOCL): ETF Analysis Stories
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.