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

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 217,800 shares, a decline of 18.1% from the October 15th total of 265,900 shares. Based on an average daily volume of 122,700 shares, the short-interest ratio is presently 1.8 days.

First Trust Cloud Computing ETF Trading Down 2.2 %

Shares of SKYY stock traded down $2.61 during trading on Friday, reaching $115.58. 127,010 shares of the company’s stock traded hands, compared to its average volume of 148,009. The firm’s 50-day moving average is $104.93 and its 200 day moving average is $97.78. The company 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 1 year low of $78.14 and a 1 year high of $121.59.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several institutional investors have recently made changes to their positions in the stock. EdgeRock Capital LLC purchased a new stake in shares of First Trust Cloud Computing ETF in the second quarter worth about $33,000. Morse Asset Management Inc purchased a new stake in shares of First Trust Cloud Computing ETF in the third quarter worth $40,000. Blue Trust Inc. purchased a new position in First Trust Cloud Computing ETF during the second quarter worth about $48,000. Values First Advisors Inc. purchased a new stake in shares of First Trust Cloud Computing ETF in the 3rd quarter valued at about $49,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at about $54,000.

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.