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 August. As of August 14th, there was short interest totaling 224,176 shares, a growth of 104.4% from the July 30th total of 109,651 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 319,920 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in shares of First Trust Cloud Computing ETF by 97.0% in the third quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 97 shares during the period. Franklin Resources Inc. acquired a new position in First Trust Cloud Computing ETF during the fourth quarter worth $33,000. Capital Advisors Ltd. LLC bought a new stake in shares of First Trust Cloud Computing ETF in the 1st quarter valued at about $35,000. Russell Investments Group Ltd. increased its holdings in shares of First Trust Cloud Computing ETF by 177.9% during the 4th quarter. Russell Investments Group Ltd. now owns 289 shares of the company’s stock worth $38,000 after acquiring an additional 185 shares during the last quarter. Finally, Continuum Advisory LLC bought a new position in First Trust Cloud Computing ETF in the 2nd quarter valued at about $40,000.

First Trust Cloud Computing ETF Stock Performance

NASDAQ SKYY opened at $165.14 on Monday. First Trust Cloud Computing ETF has a 12 month low of $103.76 and a 12 month high of $169.05. The stock has a 50-day simple moving average of $145.23 and a 200 day simple moving average of $129.37. The company has a market capitalization of $3.30 billion, a PE ratio of 33.85 and a beta of 1.24.

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.