Short Interest in First Trust Cloud Computing ETF (NASDAQ:SKYY) Drops By 42.6%

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 89,264 shares, a decrease of 42.6% from the June 15th total of 155,585 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 381,173 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

A number of institutional investors and hedge funds have recently made changes to their positions in SKYY. Marshall Wace LLP bought a new position in shares of First Trust Cloud Computing ETF in the 2nd quarter valued at about $3,175,000. Brown Advisory Inc. purchased a new stake in First Trust Cloud Computing ETF during the second quarter valued at approximately $337,000. NewEdge Advisors LLC raised its position in First Trust Cloud Computing ETF by 17.9% during the second quarter. NewEdge Advisors LLC now owns 30,644 shares of the company’s stock valued at $3,727,000 after purchasing an additional 4,652 shares during the period. Quantinno Capital Management LP bought a new stake in shares of First Trust Cloud Computing ETF in the 2nd quarter valued at approximately $597,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of First Trust Cloud Computing ETF by 7.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 164,762 shares of the company’s stock valued at $20,041,000 after purchasing an additional 11,987 shares during the last quarter.

First Trust Cloud Computing ETF Price Performance

Shares of NASDAQ SKYY traded down $0.28 during midday trading on Friday, reaching $136.10. 472,158 shares of the stock traded hands, compared to its average volume of 322,526. The company’s 50 day moving average is $135.19 and its 200 day moving average is $123.50. First Trust Cloud Computing ETF has a one year low of $103.76 and a one year high of $155.76. The stock has a market capitalization of $2.82 billion, a PE ratio of 33.85 and a beta of 1.24.

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.