First Trust Cloud Computing ETF (NASDAQ:SKYY) Hits New 1-Year High – What’s Next?

by · The Cerbat Gem

Shares of First Trust Cloud Computing ETF (NASDAQ:SKYY – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $161.46 and last traded at $160.78, with a volume of 321800 shares trading hands. The stock had previously closed at $156.17.

First Trust Cloud Computing ETF Price Performance

The company has a fifty day moving average price of $138.93 and a 200 day moving average price of $125.68. The company has a market capitalization of $3.25 billion, a P/E ratio of 33.85 and a beta of 1.24.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in First Trust Cloud Computing ETF in the second quarter valued at $3,175,000. Brown Advisory Inc. bought a new position in shares of First Trust Cloud Computing ETF during the second quarter worth about $337,000. NewEdge Advisors LLC increased its holdings in shares of First Trust Cloud Computing ETF by 17.9% in the 2nd quarter. NewEdge Advisors LLC now owns 30,644 shares of the company’s stock worth $3,727,000 after acquiring an additional 4,652 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of First Trust Cloud Computing ETF in the 2nd quarter worth about $597,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of First Trust Cloud Computing ETF by 7.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 164,762 shares of the company’s stock worth $20,041,000 after acquiring an additional 11,987 shares during the period.

About First Trust Cloud Computing ETF

(Get Free Report)

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.

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