First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Update

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 217,800 shares, a drop of 18.1% from the October 15th total of 265,900 shares. Based on an average daily volume of 122,700 shares, the short-interest ratio is presently 1.8 days.

First Trust Cloud Computing ETF Price Performance

Shares of SKYY stock traded down $2.61 during trading hours on Friday, hitting $115.58. The stock had a trading volume of 127,012 shares, compared to its average volume of 148,009. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06. First Trust Cloud Computing ETF has a one year low of $78.14 and a one year high of $121.59. The stock’s 50-day moving average price is $105.37 and its two-hundred day moving average price is $97.99.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

Institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at approximately $33,000. Morse Asset Management Inc bought a new position in First Trust Cloud Computing ETF during the third quarter valued at $40,000. Blue Trust Inc. purchased a new position in shares of First Trust Cloud Computing ETF in the 2nd quarter worth $48,000. Values First Advisors Inc. bought a new stake in shares of First Trust Cloud Computing ETF in the 3rd quarter worth about $49,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at about $54,000.

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.