Global X Cloud Computing ETF (NASDAQ:CLOU) Shares Down 3.7% – Here’s What Happened
by Tristan Rich · The Markets DailyGlobal X Cloud Computing ETF (NASDAQ:CLOU – Get Free Report)’s share price traded down 3.7% during mid-day trading on Friday . The company traded as low as $23.73 and last traded at $23.88. 395,000 shares were traded during trading, an increase of 60% from the average session volume of 246,207 shares. The stock had previously closed at $24.80.
Global X Cloud Computing ETF Stock Performance
The business’s 50-day simple moving average is $21.22 and its 200-day simple moving average is $21.19. The company has a market capitalization of $256.95 million, a price-to-earnings ratio of 36.94 and a beta of 1.08.
Hedge Funds Weigh In On Global X Cloud Computing ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLOU. Cetera Investment Advisers increased its stake in Global X Cloud Computing ETF by 29.6% in the first quarter. Cetera Investment Advisers now owns 60,877 shares of the company’s stock valued at $1,187,000 after purchasing an additional 13,905 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Global X Cloud Computing ETF by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 16,351 shares of the company’s stock valued at $319,000 after purchasing an additional 1,967 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Global X Cloud Computing ETF by 12.4% in the first quarter. Sanctuary Advisors LLC now owns 30,295 shares of the company’s stock valued at $591,000 after purchasing an additional 3,342 shares in the last quarter. Fortune Financial Group Inc. acquired a new position in Global X Cloud Computing ETF in the fourth quarter valued at about $315,000. Finally, Insight Advisors LLC PA grew its stake in Global X Cloud Computing ETF by 202.9% in the fourth quarter. Insight Advisors LLC PA now owns 22,019 shares of the company’s stock valued at $498,000 after acquiring an additional 43,427 shares during the period.
About Global X Cloud Computing ETF
The Global X Cloud Computing ETF (CLOU) is an exchange-traded fund that is based on the Indxx Global Cloud Computing index. The fund provides exposure to a market-cap weighted global equity index of companies involved in the cloud computing industry. CLOU was launched on Apr 12, 2019 and is managed by Global X.