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

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 219,000 shares, a drop of 16.5% from the November 30th total of 262,200 shares. Based on an average daily volume of 153,900 shares, the short-interest ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SKYY. Morse Asset Management Inc acquired a new stake in First Trust Cloud Computing ETF in the 3rd quarter valued at about $40,000. Values First Advisors Inc. acquired a new position in shares of First Trust Cloud Computing ETF during the 3rd quarter worth approximately $49,000. Banque Cantonale Vaudoise purchased a new stake in First Trust Cloud Computing ETF in the 2nd quarter valued at approximately $54,000. Anchor Investment Management LLC grew its holdings in First Trust Cloud Computing ETF by 53.4% during the 2nd quarter. Anchor Investment Management LLC now owns 675 shares of the company’s stock valued at $64,000 after buying an additional 235 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in First Trust Cloud Computing ETF during the third quarter worth $65,000.

First Trust Cloud Computing ETF Stock Down 1.7 %

Shares of SKYY traded down $2.09 on Friday, reaching $121.69. The stock had a trading volume of 292,606 shares, compared to its average volume of 154,375. First Trust Cloud Computing ETF has a twelve month low of $83.06 and a twelve month high of $131.13. The firm has a market capitalization of $3.57 billion, a PE ratio of 33.21 and a beta of 1.06. The firm has a 50-day moving average of $118.38 and a 200 day moving average of $104.33.

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.