First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Update

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 239,535 shares, an increase of 199.5% from the May 14th total of 79,965 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 351,966 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

A number of large investors have recently modified their holdings of SKYY. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Trust Cloud Computing ETF by 12,567.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,301,211 shares of the company’s stock worth $429,422,000 after buying an additional 3,275,151 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of First Trust Cloud Computing ETF by 803.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 107,608 shares of the company’s stock worth $14,465,000 after buying an additional 95,702 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of First Trust Cloud Computing ETF by 61.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 154,904 shares of the company’s stock worth $20,822,000 after buying an additional 58,740 shares in the last quarter. AlphaCore Capital LLC purchased a new position in shares of First Trust Cloud Computing ETF during the 4th quarter worth approximately $6,823,000. Finally, Wells Fargo & Company MN raised its stake in shares of First Trust Cloud Computing ETF by 16.4% during the 4th quarter. Wells Fargo & Company MN now owns 335,915 shares of the company’s stock worth $43,696,000 after buying an additional 47,229 shares in the last quarter.

First Trust Cloud Computing ETF Price Performance

Shares of SKYY stock traded up $0.24 during trading hours on Friday, reaching $134.02. 283,999 shares of the company’s stock were exchanged, compared to its average volume of 320,423. The company has a market cap of $2.76 billion, a P/E ratio of 33.85 and a beta of 1.24. The company’s 50 day moving average is $126.31 and its two-hundred day moving average is $122.83. First Trust Cloud Computing ETF has a 1 year low of $103.76 and a 1 year high of $155.76.

About First Trust Cloud Computing ETF

The First Trust Cloud Computing ETF (SKYY) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund tracks an index of companies involved in the cloud computing industry. Stocks are modified-equally-weighted capped at 4.5%. SKYY was launched on Jul 5, 2011 and is managed by First Trust.