First Trust Cloud Computing ETF (NASDAQ:SKYY) Sets New 12-Month High – Still a Buy?

First Trust Cloud Computing ETF (NASDAQ:SKYY)’s stock price reached a new 52-week high on Monday . The company traded as high as $131.15 and last traded at $131.03, with a volume of 41245 shares changing hands. The stock had previously closed at $128.94.

First Trust Cloud Computing ETF Stock Performance

The stock has a market capitalization of $3.98 billion, a PE ratio of 33.21 and a beta of 1.06. The business’s 50-day moving average is $124.48 and its two-hundred day moving average is $111.10.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several institutional investors have recently made changes to their positions in the stock. Tradewinds LLC. purchased a new stake in shares of First Trust Cloud Computing ETF during the 4th quarter worth $278,000. Edmond DE Rothschild Holding S.A. boosted its position in shares of First Trust Cloud Computing ETF by 953.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,696 shares of the company’s stock worth $321,000 after purchasing an additional 2,440 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of First Trust Cloud Computing ETF by 1.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 8,549 shares of the company’s stock worth $1,032,000 after purchasing an additional 154 shares in the last quarter. Core Wealth Partners LLC raised its stake in shares of First Trust Cloud Computing ETF by 4.5% during the 4th quarter. Core Wealth Partners LLC now owns 2,547 shares of the company’s stock worth $303,000 after buying an additional 110 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of First Trust Cloud Computing ETF by 1.5% during the 4th quarter. LPL Financial LLC now owns 832,024 shares of the company’s stock worth $99,111,000 after buying an additional 12,281 shares during the last quarter.

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.