WisdomTree Cloud Computing Fund (NASDAQ:WCLD) Shares Climb 1.2% – Should You Buy?

WisdomTree Cloud Computing Fund (NASDAQ:WCLD) shares shot up 1.2% during mid-day trading on Thursday. The stock traded as high as $45.55 and last traded at $45.28. 532,868 shares changed hands during trading, a decline of 46% from the average daily volume of 982,475 shares. The stock had previously closed at $44.73.

WisdomTree Cloud Computing Fund Stock Up 1.2%

The firm has a fifty day moving average of $41.39 and a 200-day moving average of $34.93. The firm has a market cap of $330.54 million, a P/E ratio of -15.68 and a beta of 1.10.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Capital Square LLC boosted its holdings in shares of WisdomTree Cloud Computing Fund by 34.5% in the 3rd quarter. Capital Square LLC now owns 12,890 shares of the company’s stock valued at $523,000 after buying an additional 3,304 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of WisdomTree Cloud Computing Fund in the third quarter valued at $232,000. Bank of America Corp DE grew its stake in shares of 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 buying an additional 134,389 shares in the last quarter. Royal Bank of Canada grew its stake in shares of WisdomTree Cloud Computing Fund by 12.1% in the first quarter. Royal Bank of Canada now owns 34,599 shares of the company’s stock valued at $946,000 after buying an additional 3,724 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of WisdomTree Cloud Computing Fund in the first quarter valued at $519,000.

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.