First Trust Cloud Computing ETF (NASDAQ:SKYY) Sets New 52-Week High – Here’s Why

First Trust Cloud Computing ETF (NASDAQ:SKYY) hit a new 52-week high during trading on Tuesday . The company traded as high as $108.42 and last traded at $108.42, with a volume of 29991 shares changing hands. The stock had previously closed at $107.03.

First Trust Cloud Computing ETF Price Performance

The stock’s 50 day moving average price is $101.67 and its two-hundred day moving average price is $96.44. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

A number of institutional investors have recently modified their holdings of SKYY. International Assets Investment Management LLC boosted its stake in shares of First Trust Cloud Computing ETF by 11,038.7% in the 3rd quarter. International Assets Investment Management LLC now owns 412,243 shares of the company’s stock valued at $42,156,000 after purchasing an additional 408,542 shares during the last quarter. Raymond James & Associates lifted its stake in shares of First Trust Cloud Computing ETF by 9.2% in the 3rd quarter. Raymond James & Associates now owns 162,068 shares of the company’s stock valued at $16,573,000 after purchasing an additional 13,689 shares during the period. Main Management ETF Advisors LLC boosted its position in shares of First Trust Cloud Computing ETF by 0.8% in the 2nd quarter. Main Management ETF Advisors LLC now owns 155,600 shares of the company’s stock worth $14,864,000 after purchasing an additional 1,200 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of First Trust Cloud Computing ETF by 20.6% in the 3rd quarter. Private Advisor Group LLC now owns 120,366 shares of the company’s stock valued at $12,309,000 after acquiring an additional 20,559 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in First Trust Cloud Computing ETF by 1,277.0% during the 1st quarter. Cetera Investment Advisers now owns 74,135 shares of the company’s stock worth $7,087,000 after acquiring an additional 68,751 shares during the last quarter.

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.