First Trust Cloud Computing ETF (NASDAQ:SKYY) Reaches New 12-Month High – Here’s Why

First Trust Cloud Computing ETF (NASDAQ:SKYY) hit a new 52-week high during mid-day trading on Friday. The stock traded as high as $169.75 and last traded at $169.2280, with a volume of 12311 shares trading hands. The stock had previously closed at $166.96.

First Trust Cloud Computing ETF Trading Up 0.8%

The stock’s fifty day simple moving average is $158.64 and its 200 day simple moving average is $138.00. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 33.85 and a beta of 1.26.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

A number of large investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. raised its stake in First Trust Cloud Computing ETF by 35.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 307 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of First Trust Cloud Computing ETF by 2.6% in the 1st quarter. Arkadios Wealth Advisors now owns 4,577 shares of the company’s stock valued at $501,000 after purchasing an additional 116 shares during the last quarter. Beacon Financial Advisory LLC boosted its position in shares of First Trust Cloud Computing ETF by 2.8% in the 4th quarter. Beacon Financial Advisory LLC now owns 4,297 shares of the company’s stock valued at $559,000 after purchasing an additional 117 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of First Trust Cloud Computing ETF by 1.7% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 7,154 shares of the company’s stock valued at $782,000 after purchasing an additional 118 shares during the period. Finally, Alteri Wealth LLC grew its stake in First Trust Cloud Computing ETF by 4.7% during the 4th quarter. Alteri Wealth LLC now owns 3,271 shares of the company’s stock worth $425,000 after buying an additional 146 shares during the last quarter.

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.