IBD reports the launch of a new ETF dedicated to tracking social media. According to the article, combines 25 companies from nine countries engaged in “social networking, file sharing and other Web-based media applications” such as video games.
Among the holdings, the largest U.S.-traded holding is Chinese Web portal Sina (SINA), weighted at 10% of assets. It’s followed by online gamer NetEase.com (NTES) at 10%, search giant Google(GOOG) 5%, Groupon (GRPN) 5%, LinkedIn (LNKD) 4% and Pandora (P) 4%.
SOCL offers exposure to companies from China, weighted at 36%, the U.S. 26%, Japan 20%, Russia 10% and Germany 2%.
The ETF extracts 0.65% of assets a year as its management fee.
The ETF also includes small weightings in nonpure plays such as NutriSystem (NTRI), a direct seller of weight-loss products.
You can read the full article here.
I´ll be back later today to follow up on some views on 6E, ES and GC. I´m currently short gold @1771 for a scalp. It could turn into a swing, depending on market conditions. Stop is at 1778-1780.