First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Up 199.5% in May
by Amy Steele · The Cerbat GemFirst Trust Cloud Computing ETF (NASDAQ:SKYY – Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 239,535 shares, an increase of 199.5% from the May 14th total of 79,965 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily volume of 351,966 shares, the days-to-cover ratio is presently 0.7 days.
First Trust Cloud Computing ETF Stock Performance
Shares of SKYY opened at $134.02 on Friday. The stock has a market cap of $2.76 billion, a PE ratio of 33.85 and a beta of 1.24. First Trust Cloud Computing ETF has a fifty-two week low of $103.76 and a fifty-two week high of $155.76. The firm’s 50-day simple moving average is $126.31 and its two-hundred day simple moving average is $122.83.
Institutional Investors Weigh In On First Trust Cloud Computing ETF
A number of institutional investors have recently made changes to their positions in SKYY. Parallel Advisors LLC grew its holdings in shares of First Trust Cloud Computing ETF by 97.0% during the third quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 97 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of First Trust Cloud Computing ETF during the fourth quarter valued at approximately $30,000. Franklin Resources Inc. purchased a new stake in shares of First Trust Cloud Computing ETF during the fourth quarter valued at approximately $33,000. Capital Advisors Ltd. LLC purchased a new stake in shares of First Trust Cloud Computing ETF during the first quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of First Trust Cloud Computing ETF by 177.9% during the fourth quarter. Russell Investments Group Ltd. now owns 289 shares of the company’s stock valued at $38,000 after buying an additional 185 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.