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

First Trust Cloud Computing ETF (NASDAQ:SKYYGet Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 223,700 shares, an increase of 19.3% from the August 15th total of 187,500 shares. Based on an average daily volume of 126,000 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of First Trust Cloud Computing ETF by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 132,969 shares of the company’s stock valued at $11,657,000 after purchasing an additional 2,566 shares in the last quarter. Paragon Private Wealth Management LLC lifted its holdings in First Trust Cloud Computing ETF by 2.0% in the fourth quarter. Paragon Private Wealth Management LLC now owns 22,868 shares of the company’s stock worth $2,005,000 after buying an additional 438 shares during the period. Wells Fargo & Company MN boosted its position in 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 valued at $26,107,000 after acquiring an additional 4,739 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of First Trust Cloud Computing ETF during the 4th quarter worth approximately $1,718,000. Finally, Tidemark LLC bought a new position in shares of First Trust Cloud Computing ETF in the 4th quarter worth approximately $1,064,000.

First Trust Cloud Computing ETF Stock Performance

Shares of First Trust Cloud Computing ETF stock traded up $0.64 during midday trading on Monday, reaching $99.07. 120,108 shares of the company’s stock traded hands, compared to its average volume of 153,124. The stock has a 50 day moving average of $94.76 and a 200-day moving average of $94.18. First Trust Cloud Computing ETF has a 12 month low of $70.42 and a 12 month high of $99.12. The company has a market cap of $3.04 billion, a PE ratio of 33.21 and a beta of 1.06.

First Trust Cloud Computing ETF Company Profile

(Get Free Report)

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.

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