Short Interest in First Trust Cloud Computing ETF (NASDAQ:SKYY) Declines By 19.4%

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 187,500 shares, a drop of 19.4% from the July 31st total of 232,500 shares. Based on an average daily volume of 123,400 shares, the short-interest ratio is currently 1.5 days.

First Trust Cloud Computing ETF Stock Performance

NASDAQ:SKYY traded up $1.15 during mid-day trading on Friday, hitting $97.93. The stock had a trading volume of 64,371 shares, compared to its average volume of 151,810. First Trust Cloud Computing ETF has a twelve month low of $70.42 and a twelve month high of $98.50. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06. The company’s 50 day simple moving average is $94.64 and its 200 day simple moving average is $93.94.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Hedge funds have recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in First Trust Cloud Computing ETF in the 4th quarter valued at about $33,000. PFS Partners LLC acquired a new stake in First Trust Cloud Computing ETF in the 1st quarter valued at about $43,000. VitalStone Financial LLC lifted its stake in First Trust Cloud Computing ETF by 44.4% in the 1st quarter. VitalStone Financial LLC now owns 465 shares of the company’s stock valued at $44,000 after purchasing an additional 143 shares during the last quarter. GAMMA Investing LLC acquired a new stake in First Trust Cloud Computing ETF during the fourth quarter worth approximately $45,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in First Trust Cloud Computing ETF during the first quarter worth approximately $48,000.

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.