Global X Cloud Computing ETF (NASDAQ:CLOU) Trading 0.6% Higher – Time to Buy?

Global X Cloud Computing ETF (NASDAQ:CLOU)’s stock price rose 0.6% on Wednesday . The company traded as high as $20.95 and last traded at $20.82. Approximately 311,482 shares traded hands during mid-day trading, an increase of 61% from the average daily volume of 193,814 shares. The stock had previously closed at $20.70.

Global X Cloud Computing ETF Stock Performance

The company has a market capitalization of $239.64 million, a PE ratio of 36.94 and a beta of 1.10. The business’s 50-day moving average is $22.56 and its 200-day moving average is $22.92.

Hedge Funds Weigh In On Global X Cloud Computing ETF

Several large investors have recently made changes to their positions in CLOU. Integrated Wealth Concepts LLC boosted its position in shares of Global X Cloud Computing ETF by 6.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 20,630 shares of the company’s stock worth $433,000 after purchasing an additional 1,190 shares in the last quarter. James J. Burns & Company LLC purchased a new position in Global X Cloud Computing ETF during the second quarter valued at $219,000. Envestnet Asset Management Inc. raised its stake in Global X Cloud Computing ETF by 12.1% during the second quarter. Envestnet Asset Management Inc. now owns 32,604 shares of the company’s stock valued at $761,000 after buying an additional 3,521 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Global X Cloud Computing ETF by 2.5% in the second quarter. Cetera Investment Advisers now owns 34,014 shares of the company’s stock worth $794,000 after acquiring an additional 843 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Global X Cloud Computing ETF in the second quarter worth $245,000.

Global X Cloud Computing ETF Company Profile

The Global X Cloud Computing ETF (CLOU) is an exchange-traded fund that is based on the Indxx Global Cloud Computing index. The fund provides exposure to a market-cap weighted global equity index of companies involved in the cloud computing industry. CLOU was launched on Apr 12, 2019 and is managed by Global X.