First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Up 19.3% in August

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 223,700 shares, a growth of 19.3% from the August 15th total of 187,500 shares. Based on an average trading volume of 126,000 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Peterson Wealth Management lifted its position in First Trust Cloud Computing ETF by 1.0% in the fourth quarter. Peterson Wealth Management now owns 24,204 shares of the company’s stock worth $2,122,000 after buying an additional 250 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of First Trust Cloud Computing ETF by 5.1% in the first quarter. EP Wealth Advisors LLC now owns 2,452 shares of the company’s stock valued at $234,000 after acquiring an additional 118 shares during the period. Napa Wealth Management purchased a new stake in shares of First Trust Cloud Computing ETF in the fourth quarter valued at $446,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Trust Cloud Computing ETF by 3.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,565 shares of the company’s stock worth $5,886,000 after acquiring an additional 2,126 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of First Trust Cloud Computing ETF by 1.6% during the 4th quarter. Wells Fargo & Company MN now owns 297,788 shares of the company’s stock worth $26,107,000 after purchasing an additional 4,739 shares during the period.

First Trust Cloud Computing ETF Price Performance

Shares of NASDAQ SKYY traded up $0.71 during midday trading on Friday, reaching $98.43. 151,116 shares of the stock traded hands, compared to its average volume of 153,311. The stock has a market capitalization of $3.02 billion, a PE ratio of 33.21 and a beta of 1.06. First Trust Cloud Computing ETF has a one year low of $70.42 and a one year high of $99.06. The company’s 50 day moving average is $94.76 and its 200 day moving average is $94.18.

About First Trust Cloud Computing ETF

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.