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

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 135,500 shares, a growth of 18.8% from the March 15th total of 114,100 shares. Based on an average daily volume of 270,600 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the shares of the company are short sold.

First Trust Cloud Computing ETF Stock Down 3.3 %

SKYY stock opened at $92.16 on Tuesday. First Trust Cloud Computing ETF has a 52 week low of $83.45 and a 52 week high of $131.54. The stock has a market capitalization of $2.73 billion, a PE ratio of 27.61 and a beta of 1.06. The firm has a 50 day moving average of $108.02 and a 200 day moving average of $115.21.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mascagni Wealth Management Inc. acquired a new position in shares of First Trust Cloud Computing ETF in the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA purchased a new position in shares of First Trust Cloud Computing ETF in the fourth quarter worth about $32,000. Farther Finance Advisors LLC lifted its holdings in shares of First Trust Cloud Computing ETF by 615.4% during the first quarter. Farther Finance Advisors LLC now owns 279 shares of the company’s stock worth $29,000 after purchasing an additional 240 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in First Trust Cloud Computing ETF by 77.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 284 shares of the company’s stock valued at $34,000 after buying an additional 124 shares during the last quarter. Finally, Huntington National Bank increased its holdings in First Trust Cloud Computing ETF by 594.4% in the 4th quarter. Huntington National Bank now owns 375 shares of the company’s stock worth $45,000 after buying an additional 321 shares during the period.

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.