Global X Cloud Computing ETF (NASDAQ:CLOU) Shares Down 3.7% – Should You Sell?

Global X Cloud Computing ETF (NASDAQ:CLOU)’s share price was down 3.7% on Friday . The company traded as low as $23.73 and last traded at $23.88. Approximately 395,000 shares were traded during mid-day trading, an increase of 60% from the average daily volume of 246,207 shares. The stock had previously closed at $24.80.

Global X Cloud Computing ETF Price Performance

The firm has a market cap of $256.95 million, a PE ratio of 36.94 and a beta of 1.08. The company has a 50-day simple moving average of $21.22 and a 200-day simple moving average of $21.19.

Institutional Trading of Global X Cloud Computing ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Founders Financial Alliance LLC purchased a new stake in shares of Global X Cloud Computing ETF during the third quarter valued at $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Global X Cloud Computing ETF in the 4th quarter worth about $32,000. International Assets Investment Management LLC bought a new stake in Global X Cloud Computing ETF during the 4th quarter valued at about $54,000. Advisory Services Network LLC bought a new stake in Global X Cloud Computing ETF during the 3rd quarter valued at about $65,000. Finally, Triumph Capital Management purchased a new stake in Global X Cloud Computing ETF in the 3rd quarter valued at about $74,000.

About Global X Cloud Computing ETF

The Global X Cloud Computing ETF (CLOU) is an exchange-traded fund that is based on the Indxx Global Cloud Computing index. The fund provides exposure to a market-cap weighted global equity index of companies involved in the cloud computing industry. CLOU was launched on Apr 12, 2019 and is managed by Global X.