WisdomTree Cloud Computing Fund (NASDAQ:WCLD) Stock Price Up 4.1% – Still a Buy?

WisdomTree Cloud Computing Fund (NASDAQ:WCLD)’s stock price was up 4.1% during trading on Friday . The stock traded as high as $39.32 and last traded at $39.01. Approximately 824,773 shares were traded during mid-day trading, a decline of 26% from the average session volume of 1,107,537 shares. The stock had previously closed at $37.47.

WisdomTree Cloud Computing Fund Trading Up 4.1%

The firm has a 50-day simple moving average of $33.17 and a two-hundred day simple moving average of $30.09. The company has a market capitalization of $297.26 million, a price-to-earnings ratio of -15.68 and a beta of 1.07.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its holdings in WisdomTree Cloud Computing Fund by 332.2% in the first quarter. Bank of America Corp DE now owns 174,838 shares of the company’s stock valued at $4,777,000 after acquiring an additional 134,389 shares during the period. Royal Bank of Canada boosted its holdings in WisdomTree Cloud Computing Fund by 12.1% during the first quarter. Royal Bank of Canada now owns 34,599 shares of the company’s stock worth $946,000 after buying an additional 3,724 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in WisdomTree Cloud Computing Fund during the first quarter valued at $519,000. Clearwater Capital Advisors LLC increased its holdings in WisdomTree Cloud Computing Fund by 19.2% in the first quarter. Clearwater Capital Advisors LLC now owns 261,011 shares of the company’s stock valued at $7,131,000 after buying an additional 42,055 shares in the last quarter. Finally, Lodestar Private Asset Management LLC raised its position in shares of WisdomTree Cloud Computing Fund by 125.2% in the first quarter. Lodestar Private Asset Management LLC now owns 13,103 shares of the company’s stock worth $358,000 after acquiring an additional 7,285 shares during the period.

About WisdomTree Cloud Computing Fund

The WisdomTree Cloud Computing Fund (WCLD) is an exchange-traded fund that is based on the BVP Nasdaq Emerging Cloud index. The fund tracks and index of US companies primarily focused on cloud software and services. Stocks are equal weighted in the index. WCLD was launched on Sep 6, 2019 and is managed by WisdomTree.