First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Down 53.4% in February

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 104,200 shares, a decline of 53.4% from the February 13th total of 223,500 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 253,100 shares, the short-interest ratio is presently 0.4 days.

First Trust Cloud Computing ETF Stock Performance

Shares of NASDAQ SKYY opened at $103.47 on Friday. The firm’s 50 day moving average price is $122.02 and its 200-day moving average price is $114.68. First Trust Cloud Computing ETF has a 52-week low of $83.45 and a 52-week high of $131.54. The company has a market cap of $3.18 billion, a PE ratio of 32.02 and a beta of 1.06.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKYY. LPL Financial LLC raised its stake in shares of First Trust Cloud Computing ETF by 1.5% in the fourth quarter. LPL Financial LLC now owns 832,024 shares of the company’s stock worth $99,111,000 after purchasing an additional 12,281 shares during the last quarter. Wells Fargo & Company MN increased its holdings in First Trust Cloud Computing ETF by 26.5% in the 4th quarter. Wells Fargo & Company MN now owns 378,613 shares of the company’s stock worth $45,100,000 after buying an additional 79,365 shares in the last quarter. Raymond James Financial Inc. purchased a new position in First Trust Cloud Computing ETF in the 4th quarter worth about $32,119,000. Envestnet Asset Management Inc. lifted its stake in First Trust Cloud Computing ETF by 157.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 232,972 shares of the company’s stock valued at $27,752,000 after acquiring an additional 142,620 shares during the period. Finally, Prudential PLC bought a new position in First Trust Cloud Computing ETF during the 4th quarter valued at about $27,124,000.

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.