Short Interest in First Trust Cloud Computing ETF (NASDAQ:SKYY) Declines By 18.1%

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a significant drop in short interest during the month of 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 trading volume, of 122,700 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI raised its position in shares of First Trust Cloud Computing ETF by 2.7% in the third quarter. National Bank of Canada FI now owns 61,284 shares of the company’s stock valued at $6,267,000 after purchasing an additional 1,596 shares during the period. Stifel Financial Corp grew its stake in First Trust Cloud Computing ETF by 4.6% in the 3rd quarter. Stifel Financial Corp now owns 50,047 shares of the company’s stock valued at $5,118,000 after buying an additional 2,207 shares in the last quarter. Morse Asset Management Inc bought a new stake in First Trust Cloud Computing ETF during the 3rd quarter valued at $40,000. Benjamin Edwards Inc. purchased a new stake in shares of First Trust Cloud Computing ETF during the third quarter worth $5,373,000. Finally, Plotkin Financial Advisors LLC bought a new position in shares of First Trust Cloud Computing ETF in the third quarter worth $3,062,000.

First Trust Cloud Computing ETF Price Performance

Shares of NASDAQ SKYY traded down $2.61 during trading on Friday, reaching $115.58. 127,012 shares of the stock traded hands, compared to its average volume of 148,009. The stock has a market capitalization of $3.39 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 $78.14 and a 52-week high of $121.59. The company has a 50-day moving average of $105.37 and a 200-day moving average of $97.94.

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.