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

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 157,300 shares, a decrease of 35.0% from the May 15th total of 241,900 shares. Based on an average daily trading volume, of 233,800 shares, the short-interest ratio is currently 0.7 days. Approximately 0.5% of the company’s shares are sold short.

Institutional Trading of First Trust Cloud Computing ETF

Large investors have recently added to or reduced their stakes in the stock. Peterson Wealth Management grew its holdings in First Trust Cloud Computing ETF by 0.7% during the 1st quarter. Peterson Wealth Management now owns 13,589 shares of the company’s stock worth $1,389,000 after acquiring an additional 96 shares in the last quarter. WBI Investments LLC acquired a new stake in shares of First Trust Cloud Computing ETF during the first quarter valued at approximately $201,000. Arete Wealth Advisors LLC purchased a new position in shares of First Trust Cloud Computing ETF during the 1st quarter valued at $251,000. Edmond DE Rothschild Holding S.A. lifted its stake in shares of First Trust Cloud Computing ETF by 4.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,821 shares of the company’s stock valued at $288,000 after purchasing an additional 125 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of First Trust Cloud Computing ETF by 16.6% in the first quarter. Cubist Systematic Strategies LLC now owns 4,406 shares of the company’s stock valued at $450,000 after purchasing an additional 626 shares during the period.

First Trust Cloud Computing ETF Price Performance

Shares of NASDAQ:SKYY opened at $117.45 on Tuesday. First Trust Cloud Computing ETF has a 12 month low of $83.45 and a 12 month high of $131.54. The business has a 50-day moving average of $108.91 and a two-hundred day moving average of $115.25. The firm has a market capitalization of $3.46 billion, a PE ratio of 30.28 and a beta of 1.06.

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.