First Trust Cloud Computing ETF (NASDAQ:SKYY) Stock Price Down 0.1% – What’s Next?
by Michael Walen · The Markets DailyFirst Trust Cloud Computing ETF (NASDAQ:SKYY – Get Free Report) shares dropped 0.1% on Friday . The stock traded as low as $110.68 and last traded at $111.65. Approximately 137,960 shares were traded during trading, a decline of 53% from the average daily volume of 292,344 shares. The stock had previously closed at $111.72.
First Trust Cloud Computing ETF Stock Down 0.1%
The firm has a market cap of $2.47 billion, a P/E ratio of 33.85 and a beta of 1.24. The business’s 50 day moving average is $117.62 and its two-hundred day moving average is $127.66.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Trust Cloud Computing ETF by 12,567.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,301,211 shares of the company’s stock valued at $429,422,000 after purchasing an additional 3,275,151 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in First Trust Cloud Computing ETF by 803.8% in the third quarter. BNP Paribas Financial Markets now owns 107,608 shares of the company’s stock valued at $14,465,000 after buying an additional 95,702 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of First Trust Cloud Computing ETF by 61.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 154,904 shares of the company’s stock worth $20,822,000 after buying an additional 58,740 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of First Trust Cloud Computing ETF during the 4th quarter worth approximately $6,823,000. Finally, Wells Fargo & Company MN grew its position in shares of First Trust Cloud Computing ETF by 16.4% during the 4th quarter. Wells Fargo & Company MN now owns 335,915 shares of the company’s stock worth $43,696,000 after buying an additional 47,229 shares during the period.
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.