First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Large Decrease in Short Interest

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 126,947 shares, a decrease of 20.1% from the March 31st total of 158,797 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily volume of 270,866 shares, the short-interest ratio is currently 0.5 days.

First Trust Cloud Computing ETF Price Performance

Shares of SKYY stock traded up $6.01 on Friday, hitting $124.78. The stock had a trading volume of 151,171 shares, compared to its average volume of 288,853. The business has a 50 day moving average of $112.53 and a 200 day moving average of $123.01. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 33.85 and a beta of 1.21. First Trust Cloud Computing ETF has a 12-month low of $103.76 and a 12-month high of $143.74.

Institutional Trading of First Trust Cloud Computing ETF

Several institutional investors and hedge funds have recently made changes to their positions in SKYY. Simplicity Wealth LLC grew its stake in First Trust Cloud Computing ETF by 221.6% in the 1st quarter. Simplicity Wealth LLC now owns 5,219 shares of the company’s stock valued at $571,000 after purchasing an additional 3,596 shares during the period. Howe & Rusling Inc. bought a new stake in shares of First Trust Cloud Computing ETF during the 1st quarter worth $42,000. Moran Wealth Management LLC increased its holdings in First Trust Cloud Computing ETF by 17.7% during the first quarter. Moran Wealth Management LLC now owns 10,606 shares of the company’s stock worth $1,160,000 after buying an additional 1,594 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in First Trust Cloud Computing ETF during the first quarter worth about $238,000. Finally, North Star Investment Management Corp. purchased a new stake in First Trust Cloud Computing ETF during the first quarter worth about $59,000.

First Trust Cloud Computing ETF Company Profile

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.