First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Up 19.3% in August

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 223,700 shares, a growth of 19.3% from the August 15th total of 187,500 shares. Based on an average daily volume of 126,000 shares, the short-interest ratio is presently 1.8 days.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Hedge funds have recently made changes to their positions in the business. Peterson Wealth Management raised its stake in shares of First Trust Cloud Computing ETF by 1.0% during the 4th quarter. Peterson Wealth Management now owns 24,204 shares of the company’s stock worth $2,122,000 after purchasing an additional 250 shares during the period. EP Wealth Advisors LLC raised its stake in shares of First Trust Cloud Computing ETF by 5.1% during the 1st quarter. EP Wealth Advisors LLC now owns 2,452 shares of the company’s stock worth $234,000 after purchasing an additional 118 shares during the period. Napa Wealth Management bought a new stake in First Trust Cloud Computing ETF in the 4th quarter valued at about $446,000. Wealth Enhancement Advisory Services LLC raised its stake in First Trust Cloud Computing ETF by 3.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,565 shares of the company’s stock valued at $5,886,000 after acquiring an additional 2,126 shares during the period. Finally, Wells Fargo & Company MN raised its stake in First Trust Cloud Computing ETF by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 297,788 shares of the company’s stock valued at $26,107,000 after acquiring an additional 4,739 shares during the period.

First Trust Cloud Computing ETF Price Performance

Shares of NASDAQ SKYY traded up $0.71 during mid-day trading on Friday, reaching $98.43. 151,116 shares of the company’s stock were exchanged, compared to its average volume of 153,311. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06. First Trust Cloud Computing ETF has a 52 week low of $70.42 and a 52 week high of $99.06. The firm has a 50-day moving average price of $94.76 and a two-hundred day moving average price of $94.18.

About First Trust Cloud Computing ETF

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.