First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Significant Growth in Short Interest

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 238,174 shares, a growth of 57.0% from the February 26th total of 151,700 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 461,300 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Cloud Computing ETF Price Performance

NASDAQ:SKYY opened at $109.92 on Friday. The company has a 50 day moving average price of $114.65 and a 200-day moving average price of $126.76. First Trust Cloud Computing ETF has a 1-year low of $85.38 and a 1-year high of $143.74. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 33.85 and a beta of 1.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYY. US Bancorp DE increased its position in shares of First Trust Cloud Computing ETF by 1.3% during the third quarter. US Bancorp DE now owns 6,108 shares of the company’s stock valued at $821,000 after acquiring an additional 78 shares during the last quarter. Pines Wealth Management LLC raised its stake in shares of First Trust Cloud Computing ETF by 4.5% in the 3rd quarter. Pines Wealth Management LLC now owns 1,844 shares of the company’s stock valued at $248,000 after acquiring an additional 79 shares during the period. Private Trust Co. NA lifted its holdings in shares of First Trust Cloud Computing ETF by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,034 shares of the company’s stock worth $395,000 after acquiring an additional 79 shares during the last quarter. Exencial Wealth Advisors LLC boosted its position in shares of First Trust Cloud Computing ETF by 1.9% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 4,378 shares of the company’s stock worth $588,000 after purchasing an additional 83 shares during the period. Finally, Fifth Third Securities Inc. boosted its position in shares of First Trust Cloud Computing ETF by 3.7% during the 3rd quarter. Fifth Third Securities Inc. now owns 2,375 shares of the company’s stock worth $319,000 after purchasing an additional 84 shares during the period.

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.