ETFs set to own Twitter

One buyer off Twitter (TWTR) expected to pick up stock five days after the IPO is the $98M Global Social Media ETF (SOCL -1.2%) which has had a big year (+51%) behind the performances of Facebook, LinkedIn, Yelp, and Sina.

Another buyer after the 5th day is the recently-launched Renaissance IPO ETF (IPO -0.4%), though a competing IPO fund, the First Trust U.S. IPO Index ETF (FPX) aims to skip a lot of the noise surrounding IPOs - it will have to wait until December 20 to pick up Twitter shares, a strategy which worked beautifully for the Facebook offering. The man behind the index for the fund, Josef Schuster is undecided about Twitter at the moment and says he will likely pass should the stock have a pop of more than 60% in the month following the IPO.

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Comments (1)
  • Bradley Sugarman
    , contributor
    Comments (33) | Send Message
    If Twitter pops 50%+ the first day it will be forever banned from the FPX index anyways so I guess it's a good thing Twitter keeps raising their IPO price.
    6 Nov 2013, 04:33 PM Reply Like
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