Global X Cloud Computing ETF (NASDAQ:CLOU) Stock Price Up 2.5% – Should You Buy?

Shares of Global X Cloud Computing ETF (NASDAQ:CLOU) shot up 2.5% during mid-day trading on Tuesday . The company traded as high as $18.78 and last traded at $18.56. 232,108 shares changed hands during trading, an increase of 13% from the average session volume of 204,967 shares. The stock had previously closed at $18.11.

Global X Cloud Computing ETF Stock Performance

The company’s 50 day moving average is $21.19 and its 200 day moving average is $22.39. The stock has a market capitalization of $203.97 million, a price-to-earnings ratio of 36.94 and a beta of 1.10.

Institutional Investors Weigh In On Global X Cloud Computing ETF

Several hedge funds have recently made changes to their positions in CLOU. Integrated Wealth Concepts LLC grew its position in Global X Cloud Computing ETF by 3.7% during the third quarter. Integrated Wealth Concepts LLC now owns 21,785 shares of the company’s stock worth $507,000 after buying an additional 770 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Global X Cloud Computing ETF by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 34,014 shares of the company’s stock worth $794,000 after acquiring an additional 843 shares during the period. IHT Wealth Management LLC grew its holdings in shares of Global X Cloud Computing ETF by 7.9% during the 4th quarter. IHT Wealth Management LLC now owns 13,721 shares of the company’s stock worth $310,000 after purchasing an additional 1,000 shares in the last quarter. Founders Financial Alliance LLC acquired a new stake in shares of Global X Cloud Computing ETF during the 3rd quarter worth approximately $29,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Global X Cloud Computing ETF during the fourth quarter valued at approximately $32,000.

About Global X Cloud Computing ETF

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.