First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Large Volume Increase – What’s Next?

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw strong trading volume on Monday . 564,729 shares changed hands during mid-day trading, an increase of 128% from the previous session’s volume of 248,087 shares.The stock last traded at $120.86 and had previously closed at $121.78.

First Trust Cloud Computing ETF Trading Down 1.2 %

The firm’s fifty day simple moving average is $124.68 and its 200 day simple moving average is $113.21. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

Institutional investors and hedge funds have recently modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new stake in First Trust Cloud Computing ETF during the 4th quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of First Trust Cloud Computing ETF by 77.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 284 shares of the company’s stock worth $34,000 after acquiring an additional 124 shares in the last quarter. Huntington National Bank boosted its holdings in First Trust Cloud Computing ETF by 594.4% in the fourth quarter. Huntington National Bank now owns 375 shares of the company’s stock valued at $45,000 after purchasing an additional 321 shares in the last quarter. Morse Asset Management Inc acquired a new position in First Trust Cloud Computing ETF in the third quarter valued at approximately $40,000. Finally, SRS Capital Advisors Inc. raised its holdings in First Trust Cloud Computing ETF by 1,343.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 433 shares of the company’s stock worth $52,000 after purchasing an additional 403 shares in 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.