Navellier & Associates Inc. Makes New Investment in First Trust Cloud Computing ETF $SKYY

Navellier & Associates Inc. purchased a new position in First Trust Cloud Computing ETF (NASDAQ:SKYY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 88,885 shares of the company’s stock, valued at approximately $8,552,000. Navellier & Associates Inc. owned about 0.44% of First Trust Cloud Computing ETF at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in First Trust Cloud Computing ETF by 12,567.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,301,211 shares of the company’s stock worth $429,422,000 after buying an additional 3,275,151 shares in the last quarter. BNP Paribas Financial Markets raised its position in First Trust Cloud Computing ETF by 803.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 107,608 shares of the company’s stock worth $14,465,000 after buying an additional 95,702 shares during the last quarter. AlphaCore Capital LLC bought a new position in First Trust Cloud Computing ETF during the 4th quarter valued at about $6,823,000. Wells Fargo & Company MN lifted its stake in First Trust Cloud Computing ETF by 16.4% during the 4th quarter. Wells Fargo & Company MN now owns 335,915 shares of the company’s stock valued at $43,696,000 after acquiring an additional 47,229 shares during the period. Finally, Independent Financial Group LLC bought a new position in First Trust Cloud Computing ETF during the 1st quarter valued at about $5,003,000.

First Trust Cloud Computing ETF Stock Down 0.9%

Shares of NASDAQ SKYY opened at $165.14 on Friday. The firm’s 50-day moving average price is $145.23 and its 200-day moving average price is $129.27. First Trust Cloud Computing ETF has a 52-week low of $103.76 and a 52-week high of $169.05. The company has a market cap of $3.30 billion, a PE ratio of 33.85 and a beta of 1.24.

First Trust Cloud Computing ETF 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.