Global X is set to roll outa new exchange-traded fund (ETF) based on social media, Index Universe reports. The New York-based fund provider has also filed with the Securities and Exchange Commission for the same.
The Global X Social Media Index ETF will focus on social media, recalling ultra-specific smart phone and cloud computing ETF strategies floated by First Trust. It will invest in securities from companies involved with social networking, file sharing and other web-based media applications. The fund will track the performance of the Solactive Social Media Index.
Click here for the story from Index Universe.