Short Interest in First Trust Cloud Computing ETF (NASDAQ:SKYY) Declines By 18.9%

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 176,600 shares, a decrease of 18.9% from the December 31st total of 217,800 shares. Based on an average daily trading volume, of 192,700 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SKYY. Renaissance Technologies LLC bought a new position in shares of First Trust Cloud Computing ETF in the second quarter worth approximately $325,000. Bank of Montreal Can lifted its position in First Trust Cloud Computing ETF by 61.3% during the second quarter. Bank of Montreal Can now owns 8,250 shares of the company’s stock valued at $792,000 after purchasing an additional 3,136 shares during the period. Marshall Wace LLP bought a new position in First Trust Cloud Computing ETF during the second quarter valued at approximately $209,000. Northwestern Mutual Wealth Management Co. lifted its position in First Trust Cloud Computing ETF by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,930 shares of the company’s stock valued at $2,764,000 after purchasing an additional 4,259 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in First Trust Cloud Computing ETF by 15.0% during the second quarter. EP Wealth Advisors LLC now owns 2,821 shares of the company’s stock valued at $270,000 after purchasing an additional 369 shares during the period.

First Trust Cloud Computing ETF Stock Down 1.0 %

Shares of NASDAQ SKYY traded down $1.30 during midday trading on Monday, hitting $127.03. The stock had a trading volume of 239,896 shares, compared to its average volume of 253,305. The business’s 50 day moving average is $123.55 and its 200-day moving average is $109.35. The company has a market cap of $3.91 billion, a P/E ratio of 33.21 and a beta of 1.06. First Trust Cloud Computing ETF has a 52 week low of $83.45 and a 52 week high of $131.13.

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.