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

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 104,200 shares, a decrease of 53.4% from the February 13th total of 223,500 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 253,100 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

Hedge funds have recently made changes to their positions in the business. LFA Lugano Financial Advisors SA acquired a new position in shares of First Trust Cloud Computing ETF in the 4th quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of First Trust Cloud Computing ETF by 77.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 284 shares of the company’s stock valued at $34,000 after buying an additional 124 shares in the last quarter. Huntington National Bank raised its stake in shares of First Trust Cloud Computing ETF by 594.4% in the 4th quarter. Huntington National Bank now owns 375 shares of the company’s stock valued at $45,000 after buying an additional 321 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of First Trust Cloud Computing ETF in the 3rd quarter valued at $40,000. Finally, SRS Capital Advisors Inc. raised its stake in shares of First Trust Cloud Computing ETF by 1,343.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 433 shares of the company’s stock valued at $52,000 after buying an additional 403 shares in the last quarter.

First Trust Cloud Computing ETF Price Performance

Shares of First Trust Cloud Computing ETF stock opened at $107.27 on Friday. 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 fifty day moving average price of $121.73 and a two-hundred day moving average price of $114.87. The company has a market cap of $3.30 billion, a PE 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.