First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Significant Growth in Short Interest

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 238,174 shares, a growth of 57.0% from the February 26th total of 151,700 shares. Based on an average daily trading volume, of 461,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Forty three Eighteen Advisors LLC purchased a new position in shares of First Trust Cloud Computing ETF during the 4th quarter valued at about $1,618,000. Rockefeller Capital Management L.P. grew its holdings in First Trust Cloud Computing ETF by 9.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 72,163 shares of the company’s stock worth $9,387,000 after acquiring an additional 6,430 shares during the period. Osbon Capital Management LLC acquired a new stake in First Trust Cloud Computing ETF during the fourth quarter worth about $1,093,000. World Investment Advisors raised its position in First Trust Cloud Computing ETF by 7.1% during the fourth quarter. World Investment Advisors now owns 6,229 shares of the company’s stock valued at $810,000 after acquiring an additional 414 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in First Trust Cloud Computing ETF by 19.1% during the fourth quarter. Sunbelt Securities Inc. now owns 2,478 shares of the company’s stock valued at $322,000 after acquiring an additional 398 shares in the last quarter.

First Trust Cloud Computing ETF Price Performance

SKYY stock opened at $109.92 on Friday. The firm’s fifty day simple moving average is $114.65 and its 200-day simple moving average is $126.76. The company has a market capitalization of $2.43 billion, a P/E ratio of 33.85 and a beta of 1.24. First Trust Cloud Computing ETF has a 12 month low of $85.38 and a 12 month high of $143.74.

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.