Global X Funds is seeking to launch an ETF that will invest in social networking stocks, Financial News reports. The U.S. firm is yet to construct a proposed index Solactive Social Media to guide its purchases. The index is being compiled by a German developer Structured Solutions.
The niche ETFs provider will help investors purchase listed social media, file-sharing and web-based media application stocks typified by business networking site LinkedIn. Nearly 20% of the Global X social media ETF will be invested in swap-based arrangements, while the remainder will be invested in social media stocks worldwide.
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