Independent Advisor Alliance Takes $1.41 Million Position in First Trust Cloud Computing ETF (NASDAQ:SKYY)

Independent Advisor Alliance purchased a new position in shares of First Trust Cloud Computing ETF (NASDAQ:SKYY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,858 shares of the company’s stock, valued at approximately $1,412,000.

Other hedge funds have also bought and sold shares of the company. SP Asset Management LLC acquired a new position in First Trust Cloud Computing ETF in the fourth quarter worth $2,651,000. Raymond James Financial Inc. acquired a new stake in shares of First Trust Cloud Computing ETF during the fourth quarter worth $32,119,000. SPC Financial Inc. bought a new position in shares of First Trust Cloud Computing ETF in the 4th quarter worth about $4,920,000. Atria Investments Inc boosted its holdings in shares of First Trust Cloud Computing ETF by 10.2% in the 4th quarter. Atria Investments Inc now owns 15,026 shares of the company’s stock valued at $1,790,000 after buying an additional 1,388 shares during the period. Finally, Assetmark Inc. grew its position in shares of First Trust Cloud Computing ETF by 0.8% during the 4th quarter. Assetmark Inc. now owns 21,124 shares of the company’s stock valued at $2,516,000 after buying an additional 175 shares during the last quarter.

First Trust Cloud Computing ETF Stock Up 3.7 %

SKYY opened at $107.27 on Friday. The company’s 50-day moving average price is $121.73 and its 200 day moving average price is $114.74. First Trust Cloud Computing ETF has a fifty-two week low of $83.45 and a fifty-two week high of $131.54. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 32.02 and a beta of 1.06.

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.