Global X Planning Social Media ETF

Global X, the quickly growing ETF issuer best known for its unique sector specific products, announced more plans to expand its ETF lineup. The company released information on a proposed Social Media Index ETF which will track the Solactive Social Media Index. If approved by the SEC, the new fund would be the 36th product for the New York-issuer and would continue the blistering pace of growth that the company has seen so far in 2011. Although a ticker symbol and expense ratio were not released at time of filing, we have highlighted some of the key details from the document below: The proposed fund’s underlying index is designed to reflect the performance of companies involved in the social media industry, including companies that provide social networking, file sharing, and other web-based media applications. The stocks are screened for liquidity and weighted according to modified free-float market capitalization while the index is [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Maybe The World Isn’t Ending UBS Debuts Internet IPO ETNs