Short Interest in First Trust Cloud Computing ETF (NASDAQ:SKYY) Expands By 199.5%

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 239,535 shares, an increase of 199.5% from the May 14th total of 79,965 shares. Based on an average daily volume of 351,966 shares, the short-interest ratio is presently 0.7 days. Approximately 1.2% of the company’s stock are short sold.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

A number of institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its position in First Trust Cloud Computing ETF by 61.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 154,904 shares of the company’s stock valued at $20,822,000 after purchasing an additional 58,740 shares during the period. San Luis Wealth Advisors LLC acquired a new position in First Trust Cloud Computing ETF during the 4th quarter valued at approximately $801,000. AlphaCore Capital LLC bought a new stake in First Trust Cloud Computing ETF in the 4th quarter valued at about $6,823,000. Northbridge Financial Group LLC bought a new stake in First Trust Cloud Computing ETF in the 4th quarter valued at about $543,000. Finally, Warner Group LLC bought a new stake in First Trust Cloud Computing ETF in the 3rd quarter valued at about $3,279,000.

First Trust Cloud Computing ETF Stock Performance

Shares of NASDAQ SKYY opened at $133.78 on Friday. First Trust Cloud Computing ETF has a 1 year low of $103.76 and a 1 year high of $155.76. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 33.85 and a beta of 1.24. The stock’s 50-day simple moving average is $125.84 and its 200-day simple moving average is $122.75.

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.