First Trust Cloud Computing ETF (NASDAQ:SKYY) Hits New 1-Year High – Here’s Why

First Trust Cloud Computing ETF (NASDAQ:SKYY) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $107.09 and last traded at $106.96, with a volume of 13200 shares trading hands. The stock had previously closed at $106.32.

First Trust Cloud Computing ETF Price Performance

The stock has a market cap of $3.12 billion, a PE ratio of 33.21 and a beta of 1.06. The business has a 50 day simple moving average of $99.18 and a 200 day simple moving average of $95.40.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKYY. EP Wealth Advisors LLC acquired a new stake in shares of First Trust Cloud Computing ETF in the 4th quarter valued at $205,000. RFG Advisory LLC acquired a new position in shares of First Trust Cloud Computing ETF during the 1st quarter valued at about $230,000. MJP Associates Inc. ADV raised its stake in shares of First Trust Cloud Computing ETF by 4.0% in the 1st quarter. MJP Associates Inc. ADV now owns 2,703 shares of the company’s stock valued at $258,000 after acquiring an additional 105 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in First Trust Cloud Computing ETF by 3.4% in the 1st quarter. International Assets Investment Management LLC now owns 3,677 shares of the company’s stock worth $351,000 after purchasing an additional 120 shares during the last quarter. Finally, Flagstar Advisors Inc. boosted its position in First Trust Cloud Computing ETF by 40.1% during the first quarter. Flagstar Advisors Inc. now owns 3,509 shares of the company’s stock worth $335,000 after purchasing an additional 1,004 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.