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

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 108,795 shares, a growth of 19.8% from the December 31st total of 90,848 shares. Based on an average daily volume of 127,058 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.5% of the shares of the company are short sold. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 127,058 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of SKYY. US Bancorp DE grew its stake in shares of First Trust Cloud Computing ETF by 1.3% during the 3rd quarter. US Bancorp DE now owns 6,108 shares of the company’s stock worth $821,000 after purchasing an additional 78 shares during the period. Pines Wealth Management LLC increased its holdings in First Trust Cloud Computing ETF by 4.5% during the 3rd quarter. Pines Wealth Management LLC now owns 1,844 shares of the company’s stock valued at $248,000 after acquiring an additional 79 shares in the last quarter. Private Trust Co. NA increased its stake in shares of First Trust Cloud Computing ETF by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,034 shares of the company’s stock worth $395,000 after purchasing an additional 79 shares in the last quarter. Exencial Wealth Advisors LLC increased its position in First Trust Cloud Computing ETF by 1.9% during the third quarter. Exencial Wealth Advisors LLC now owns 4,378 shares of the company’s stock worth $588,000 after buying an additional 83 shares in the last quarter. Finally, Fifth Third Securities Inc. increased its position in First Trust Cloud Computing ETF by 3.7% during the 3rd quarter. Fifth Third Securities Inc. now owns 2,375 shares of the company’s stock worth $319,000 after purchasing an additional 84 shares in the last quarter.

First Trust Cloud Computing ETF Trading Down 4.5%

Shares of SKYY stock opened at $113.98 on Wednesday. The stock has a 50 day simple moving average of $128.41 and a 200-day simple moving average of $129.72. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 33.85 and a beta of 1.24. First Trust Cloud Computing ETF has a 12-month low of $85.38 and a 12-month high of $143.74.

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.